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JTC Acquires Boutique Asset Manager Ballybunion Capital, in Ireland

21st Sep 2021

JTC, the global professional services business and Ballybunion Capital Limited, a boutique asset manager based in Dublin and regulated by Central Bank of Ireland (CBI), are pleased to announce that JTC has agreed to acquire Ballybunion Capital. The transaction is subject to change control and final regulatory approval and is expected to complete by year end.

Founded in 2009, Ballybunion Capital provides management and regulatory oversight services to investment funds and offers Management Company (ManCo) services as an Alternative Investment Fund Manager (AIFM) as well as governance oversight, portfolio management and risk management solutions.

Ballybunion has a strong reputation in the alternative funds industry and its solutions-based funds service offering has focused 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.

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. Ballybunion’s other executive management, led by Orla Philippon and Claire Flynn, along with all other employees will join JTC and will continue to provide a premium client service experience to its valued clients. Ballybunion will become part of JTC’s Institutional Client Services (ICS) Division and its fast-growing Irish funds business.
JTC has over 1,200 employees delivering services for more than 6,000 clients from offices in 20 countries. The Group has US$180bn of assets under administration and is listed on the London Stock Exchange, where it is a member of the FTSE250. JTC is represented in all key fund services jurisdictions, including a significant presence in the US with offices in 6 major cities, which will support the continued development of Ballybunion’s business in North America. JTC’s global funds platform has a particular focus on alternative asset classes, value enhancing services and technology for clients and ESG.

The Ballybunion acquisition will allow JTC Ireland to provide ManCo, fund administration and Depositary services to Irish funds, as well as funds globally.
Earlier in 2021 JTC acquired INDOS Financial, a leading specialist provider of Depositary and other fund oversight services to the alternative funds industry. INDOS has a significant and complementary Irish presence. In addition, Graham Kennedy, an experienced Irish funds industry veteran who previously led SEI’s fund administration business in Ireland, recently joined JTC to support the development of its Irish fund administration service offering.

Ballybunion will substantially enhance JTC’s fund services presence in Ireland and globally, providing ManCo, portfolio management and governance services for Irish domiciled funds, giving access to new clients and providing a platform from which to drive future growth in the strategically important Irish AIFM market.

Nigel Le Quesne, CEO of JTC, said:

“Following our successful fund raise earlier this year, we are delighted to announce the acquisition of Ballybunion, which is a sophisticated and high quality ManCo in the strategically important Irish fund services market. The business has excellent alignment with our existing fund services business in Europe, as well as our expanding US practice. We welcome Patrick, Orla, Claire, their team and all Ballybunion clients and partners to the Group.”

Patrick O’Sullivan, Founder and Managing Director of Ballybunion, said:

“Having founded the business in 2009 and successfully executed on our strategy of focusing on being a solution driven AIFM particularly for long life cycle assets, now is the right time to find a partner that will take us to the next level and ensure we continue to grow our business globally and particularly in North America. 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.”

Read the full RNS of this acquisition here

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