08 September 2015

Carey Olsen advises JTC as it strengthens its global funds capabilities

Carey Olsen has advised JTC Group, a leading global provider of institutional and private client services, on its acquisition of Kleinwort Benson's fund administration business.

The purchase encompasses all of Kleinwort Benson's fund administration activities, which extend across Guernsey, Jersey and South Africa. The transaction represents a 40 per cent growth in headcount for JTC.

Carey Olsen advised JTC on the pan-Channel Island due diligence, regulatory and legal aspects of the transaction, supporting UK counsel King & Wood Mallesons. The Carey Olsen team comprised partners Mike Jeffrey, Graham Hall and Tony Lane, senior associate James Willmott and associate Paul Tominey.

Mike Jeffrey said: "In line with a global trend for a significant increase in M&A activity, we are advising on a growing number of high-profile instructions in this area, particularly in the trust and funds service provider sector.

Nigel Le Quesne, CEO and Chairman of JTC Group said: "This acquisition further strengthens our position as a leading global provider of fund administration services, and Carey Olsen's expertise in advising on M&A transactions of this scale, and in particular their experience in the highly regulated financial services sector, came to the fore."