Apex Group has closed the acquisition of GFin Corporate Services following regulatory approval from the Financial Services Commission in Mauritius.
The completion marks the second closed deal this week from the fund services specialist.
GFin is a Mauritius–based and licensed Management Company, providing fund administration services to institutional clients.
Apex said the integration into the Group enhances its long-established presence in Mauritius, supporting the provision of a range of locally delivered fund administration and corporate solutions to clients.
Apex Mauritius currently administers 15% of all new funds in the jurisdiction.
“Mauritius is a growing hub for financial services in the region, and continues to attract investors looking to access both Asian and African markets,” said Peter Hughes, founder and CEO of Apex Group.
“With this acquisition, Apex is well positioned as the leading fund administrator in Mauritius to ensure that we deliver outstanding services and products which meet the requirements of each individual client.”
GFin has assets under administration of $18 billion and adds to Apex’s growing portfolio of companies which has taken its own total to the $1 trillion mark.
Earlier this week Apex completed the acquisition of FundRock, the largest third-party manager of UCITS funds in Luxembourg.
The deals come four years into an aggressive expansion plan from Apex which has also seen it move into custody, depositary, ManCo and corporate services, among regional expansions. In addition, the firm earned its second investment from a private equity firm after Carlyle Group took a stake in Apex.