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Apex secures USD30m commitment from FTV Capital

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Apex Fund Services has secured a USD30 million commitment from FTV Capital for a minority interest in the Company. FTV Capital, the first institutional investor in Apex, is a growth equity investor with extensive experience and a global network in the financial services industry, and especially asset management.

Apex has 23 offices worldwide, including Singapore, Shanghai, Dubai and Switzerland, and delivers global fund administration solutions to investment managers investing in traditional and alternative assets. Apex offers clients a wide variety of specialised and integrated products supporting middle and back office fund administration, complex derivatives, risk reporting and corporate secretarial and fund formation administration, as well as specialist start up services to asset managers.

During 2010 Apex launched the world’s first real-time Middle Office (MOOR) service, giving investment managers immediate on the spot access to their portfolios. In addition, Apex offers a number of platforms giving clients a diverse range of fund launch options.

“Apex is unique in its ability to reach globally, service locally and provide cross-jurisdictional solutions and best practices; clients benefit significantly from the company’s deep expertise and a local presence that enables flexible, custom solutions," says Peter Hughes, Apex Group Managing Director.

“This USD30 million commitment will enable Apex to accelerate its model of delivering an increasing range of client service orientated products into the world’s major financial centres. Investment managers serviced by Apex have come to expect the highest level of client servicing available and this investment will help ensure these standards are maintained.

“We welcome the collaboration with FTV Capital, especially given FTV’s extensive Global Partner Network in the financial services industry. The Apex team has done a remarkable job building a highly successful business. In spite of challenging global economic conditions, assets under administration have doubled since 2008 and Apex is rapidly approaching the world’s top 25 fund administrators.

"We remain committed to continuing the growth of the Company by entering attractive new markets and considering further strategic acquisitions. FTV’s capital, expertise, and network will help Apex with this strong growth trajectory as we open new offices in support of both the billion dollar fund market as well as emerging asset managers around the world who seek a proven fund administration partner."

Apex service solutions are tailored to the investment managers’ needs as well as the regulatory and investment environment within the main global financial centers. Apex administers both onshore and offshore investment funds such as mutual funds, UCITs, SICAVs, fund of funds, private equity, real estate, Shari’ah and partnerships from the firm’s global footprint of 23 offices around the world.

Apex Fund Services was advised by Frank Ennis of Katalyst Partners.

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