JTC Group, the
Jersey-headquartered trust company backed by private equity house CBPE, has
acquired Ardel Fund Services Limited (AFSL).
AFSL, which
was formerly known as Bachmann Fund Administration, was established in Guernsey
in 1993 and is a specialist fund administration business. 13 AFSL staff will join JTC Group, with the
combined team operating from AFSL’s premises in Frances House in St Peter Port.
JTC already
had existing fund business in Jersey and Luxembourg, but the acquisition will improve
the strength in depth of that area of the business, and adds Guernsey, which is
an important location for alternative investment funds, into the fund portfolio.
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