IQ-EQ, an Astorg portfolio company, is pleased to announce the acquisition of JGM Fund Services (JGM), an industry-leading U.S. provider of fund administration and tax services for alternative investors specializing in the real estate and private equity asset classes.
This acquisition further reinforces IQ-EQ’s growing position as a leading player in the U.S. market, the largest and fastest growing alternative fund services market globally. A shared entrepreneurial approach to business coupled with a strong focus on providing high levels of client service and an emphasis on training and investment of its employees positions the newly combined entity as the provider of choice for alternative asset managers.
As a result of this transaction, IQ-EQ now services its growing U.S. client base from its U.S. operations located across eight states and 12 locations including New York City (HQ), Dallas, Garden City, Iselin, San Francisco, Fort Worth, Houston, Chicago, Bedford, Rapid City, Austin and West Palm Beach. The acquisition of JGM grows IQ-EQ’s U.S. employee base to 650+ and 4,000+ globally, offering high-touch client services across all three segments – Fund and Asset Managers, Private and Institutional Investors, and Debt, Capital Markets and Corporates.
Commenting on the announcement, Mark Fordyce, IQ-EQ's Regional CEO, The Americas, said:
"JGM is a technology focused fund services provider specializing in private fund administration, with extensive expertise in administering highly complicated real estate structures. We believe the strong relationships the JGM’s Managing Partners have with fast growing specialist real estate and private equity managers will contribute significantly to our global business.
"We pride ourselves on delivering high-touch, white-glove, tech-enabled services to our growing client base and bringing a team of the caliber of JGM on board will serve to positively reinforce our growing reputation and capability making us the partner of choice in this market. It’s an exciting time for our business and I look forward to welcoming the JGM team to IQ-EQ and working as one team to realize our ambitions in this market."
Ben Jamron, Managing Partner JGM Fund Services LLC further commented:
"IQ-EQ is a leading investor services group that brings together global technical expertise with a deep understanding of its clients’ needs. IQ-EQ offers a comprehensive range of compliance, administration, asset and advisory services to fund managers, multinational companies, family offices and private clients operating worldwide.
"As part of getting to know our new colleagues at IQ-EQ, we have found significant commonality in our businesses including the importance of our people, our focus on our clients, and the significance of specialized expertise. We have observed IQ-EQ to be a business with clear market ambition to be universally recognized as the leading provider of outsourced solutions for alternative asset managers in the United States. John, Ralph and I are ecstatic to be embarking on the next phase of our journey as part of IQ-EQ, where our service model will remain the same, our people have growth opportunities and our clients will have access to a much broader range of services both here in the U.S. and more globally for those looking to expand into Europe."