JTC is to acquire Ireland-based Ballybunion Capital, a provider of management and regulatory oversight services to investment funds.
Ballybunion Capital will become part of JTC’s Institutional Client Services (ICS) division and its Irish funds business.
The Ballybunion Capital acquisition will allow JTC Ireland to provide ManCo, fund administration and depositary services to Irish funds, as well as funds globally.
Founded in 2009, Ballybunion Capital offers management company (ManCo) services as an alternative investment fund manager, and also provides governance oversight, portfolio management and risk management solutions.
Ballybunion’s funds service offering focuses on the premium end of the market, covering both alternative and traditional asset classes, including private equity, loans, real estate, fixed income, ESG and life settlements.
JTC’s acquisition of Ballybunion Capital is expected to complete by year end, following regulatory approval.
After the acquisition, Ballybunion’s founder, Patrick O’Sullivan, will remain with JTC in a leadership role focused on the development of its Irish funds business internationally, especially in North America.
JTC has more than 1,200 employees delivering services for over 6,000 clients from offices in 20 countries.
The company also has a significant presence in the US with offices in six major cities, which will support the continued development of Ballybunion’s business in North America.
Earlier in 2021, JTC acquired INDOS Financial, a provider of depositary and other fund oversight services to the alternative funds industry.
In addition, Graham Kennedy, who previously led SEI’s fund administration business in Ireland, recently joined JTC to support the development of its Irish fund administration service offering.
Nigel Le Quesne, CEO of JTC, says: “Following our successful fundraise earlier this year, we are delighted to announce the acquisition of Ballybunion, which has excellent alignment with our existing fund services business in Europe, as well as our expanding US practice.”
Patrick O’Sullivan, founder and managing director of Ballybunion, comments: “In JTC we have found a combination of strong cultural alignment and an incredibly well-built global platform that will allow us to significantly accelerate our growth, as well as adding more value for our existing clients.”
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