JTC, a global professional services business, has acquired Essential Fund Services, to add scale in the growth market.

EFS provides a range of services in the alternative assets sector including accounting and reporting and administrative services to investment partnerships and managers. The deal is complementary to JTC’s acquisition of SALI Fund Services; EFS offers fund accounting services to the insurance dedicated fund market where SALI is an industry leader.

The deal will enhance JTC’s fund services, provide scale and growth opportunities to complement its existing footprint. Currently, EFC provides services to 45 clients in 110 investment partnerships with $5.5 billion in AuA.

“I am delighted that EFS has the opportunity to become part of the JTC Group and play a role in its ambitious plans for the US fund services market,” said Gerard Federici, managing member of EFS. “We share the same belief in the importance of exceptional client service, and through our established relationship with SALI Fund Services, we will very much hit the ground running and look forward to accelerating our growth story.”