Financial Services


From local to global. Expanding JTC worldwide.

The challenge

JTC is a leading independent provider of private wealth, corporate, employee benefit and fund administration services. In 2012, JTC selected CBPE as an investor to partner with management to develop JTC’s platform and to pursue a global growth strategy. CBPE took a significant minority ownership position, with the balance of the equity being held by management and employees.

The strategy

To enable JTC to achieve its goals, we pursued a strategy which combined well planned organic expansion with acquisitive growth. During the period of our investment, ten successful and complementary acquisitions were completed, significantly increasing the scale of JTC’s operations and diversifying its revenue and client base. Exposure to higher growth end markets was further increased with new offices opened in Brazil, Argentina, Miami and New Zealand.

Simultaneously, to enhance the quality and efficiency of the service proposition and to ensure the business was well placed to continue to support its growing client base, significant investment was made in JTC’s platform, systems and technology. The improvements made to JTC’s operational infrastructure will ensure that JTC is well placed to continue to deliver excellent service to its clients and will support the business as it pursues further growth.

Our strategy led to ten successful acquisitions, along with improvements throughout the business to ensure it would stand the test of time throughout their development. These ranged from a new headquarters in Jersey, to system updates that helped make their service more efficient.

The result

Our partnership saw JTC successfully transition from a Channel Islands focused administrator to a global service provider with a diverse, multi-jurisdictional platform and broad client reach.

While still headquartered in Jersey, by the time of our exit, JTC employed over 550 people globally and operated in 17 different jurisdictions including Europe, Africa, the USA, the Caribbean and across Asia-Pacific. The Group had in excess of 4,800 clients including alternative asset managers, financial institutions, corporates, family offices and UHNWIs. From 2012 to December 2017, revenues increased almost threefold to £60m and Assets Under Administration increased from $2bn to $85bn. Our partnership successfully concluded with the completion of JTC’s IPO on the London Stock Exchange’s main market in March 2018 at an Enterprise Value of £338m. We realised the investment in full, generating a return of 4.4x invested capital.

We would like to thank CBPE for their role in the development of JTC into a global service provider over the last five years. They have provided invaluable support and investment which has facilitated an acceleration in JTC’s growth and success, transforming the business into a leader in the administration services market for funds, corporate and private clients.

Nigel Le Quesne, CEO of JTC

We have really enjoyed working with the JTC team over the last five years. Consistent with our investment ethos of backing strong management teams, the relationship has been a true partnership between CBPE and JTC and we are very proud to have been part of the growth and success that the business has achieved.

Ian Moore, Partner
CBPE Capital


Investment summary

  • Date of investmentJuly 2012

  • Exit dateMarch 2018

  • SectorFinancial Services

  • Multiple of Capital4.4x

  • CBPE OwnershipMinority

  • IRR33.4%

  • WebsiteView website

Key outcomes


Acquisitions completed


New Geographies opened


Revenue Growth


Employees at Exit


Selected investments

View all investments
Aquaspersions Logo


Snigel Logo


FSP Logo