Juno Holdings Purchased by Management from GSX Group

Juno Holdings, the holding company for the Gibraltar based Juno operating companies – including Juno Fund Services and Juno Fiduciary Services – were acquired from the GSX Group for an undisclosed sum in a management buy-out on the 24 December 2020.

The GSX Group has sold its controlling interest in its fund administration and fiduciary arm, Juno Holdings Limited, for an undisclosed sum in a management buy-out.

Juno Holdings is the holding company of the five Juno Operating Companies, being:

  • Juno Fund Services Limited (a licensed collective investment scheme administrator);
  • Juno Fiduciary Services Limited (a licensed company manager and trustee);
  • Juno Nominees Limited (a licensed nominee shareholder);
  • Juno Management Limited (a licensed corporate director); and
  • Juno Solutions Limited.

The businesses purchased were originally part of the Grant Thornton fund administration and fiduciary businesses.

The sale by GSX Group was part of a streamlining and realignment on the delivery of core business objectives by GSX Group, in a bid to execute its ‘capital markets vision’. Nick Cowan, CEO of GSX Group commented on the sale, stating:

“Earlier this year, GSX Group decided to divest all non-core businesses to focus our resources on the execution of our capital markets vision. As part of the strategy, following regulatory approval, GSX Group has sold its interest in Juno Holding to management led by Russell Johnston. Previously, Russell has acted as GSX Group’s General Counsel and we look forward to working with him and the Juno team for many years to come.”

Juno Holdings, which amongst other companies owns one of the largest fund administrators in Gibraltar, will strengthen its position both domestically and internationally by expanding delivery of bespoke solutions to its growing list of clients, via a range of fund, administrative and corporate services. Russell Johnston, for the controlling company buying out Juno, commented on the sale, saying:

“Since coming to Gibraltar in 2017 to work with the GFSC on secondment from my law firm, I have been struck by the entrepreneurial spirit of this jurisdiction and its people. I have been GSX Group’s General Counsel since 2019 and when I heard that GSX Group would consider the disposal of such a valuable business line I was immediately on-board. I now welcome this great opportunity to maintain and grow jobs in Gibraltar (especially at such a difficult time) and further boost the successful growth of the various Juno companies and business lines, in particular in bringing new and innovative funds into Gibraltar.”

GSX Group aims to build a global network of digital securities exchanges using its proprietary blockchain technology STACS Native Network. Delivering a single point of access for digital securities lifecycle from issuance, listing, to settlement.

“We congratulate the new management and owner of Juno Holdings, as they take on this new and exciting venture. GSX Group looks forward to maintaining a close dynamic relationship that continues to support our clients and our stakeholders to the best of our ability.” Cowan concluded.

Nick Cowan [email protected]

Russell Johnston [email protected]

Enquiries [email protected], +350 200 67822