STRAIT, a highly successful Dallas based fund solutions company for alternative investment firms, has entered into an agreement with Sanne Group plc (“Sanne”) whereby Sanne will acquire STRAIT.
Sanne is an award-winning and leading global provider of alternative asset and corporate services. Established in 1988 and listed as a FTSE 250 business on the Main Market of the London Stock Exchange, Sanne employs more than 1,900 people worldwide. The business administers assets in excess of $645 billion and has operations in 22 leading financial jurisdictions located across the Americas, Europe, Africa and Asia-Pacific.
As the international specialist in the alternative assets sector, Sanne has deep expertise across a range of industries that include: Private Equity, Real Assets, Private Debt, Capital Markets, Hedge and Corporate Services. The FTSE listed business is also recognised within the sector for delivering exceptionally high levels of client service backed by an innovative and strong technology platform.
STRAIT's proven management team, long-standing client relationships, and strong entrepreneurial culture are well aligned with Sanne’s own emphasis on service excellence.
STRAIT’s Founder, John Relton, will be transitioning to an Advisory role post transaction. The firm’s management team will be led by Stacey Relton and the team will work with Sanne’s business leaders to integrate STRAIT's people, clients and systems into the Sanne operating model.
The transaction will bring new opportunities and additional services to STRAIT’s clients and the transaction is expected to be completed later today.
John Relton, Founder and Chief Executive Officer at STRAIT said: “I started STRAIT in 2006 to build a high-touch business model that would focus on client service excellence for investment funds and their stakeholders. Joining a sophisticated global team of Sanne’s reputation and expertise is a testament to the professionalism we have built into our business and the amazing talent of our people.”
Stacey Relton, Managing Partner of STRAIT commented: “We are delighted to be joining Sanne, the leading global provider in alternative investment servicing. Our closely aligned values and commitment to client service made Sanne a natural choice. The acquisition will allow us to provide our clients a global offering including complementary services and best-in-class technology and at the same time, offer our people opportunities for career development and continual learning. We look forward to working alongside Sanne to deliver exceptional global, institutional-quality services to alternative investment firms and investors that will facilitate their growth and success.”
Martin Schnaier, Chief Executive Officer at Sanne commented: “Our aim is to be the best in the industry which means building a leading US business, both organically and through strategic acquisitions. STRAIT has an impressive track record of growth, a strong management team and the same focus on high quality client service to the alternative investment industry. We look forward to working alongside them to contribute to the continued success of our combined teams over the years to come.”