FUND ADMINISTRATION

Apex begins New Year with acquisition of Luxembourg-based asset servicer

The deal is the third one in six months for Apex as it looks to break into the top five largest global fund administrators ranks.

By Joe Parsons joe.parsons@strategic-i.com January 08, 2018 3:07 PM GMT

Fund services provider Apex will acquire the Luxembourg-based asset management and servicing business of M.M Warburg & Co, its third takeover in six months.

Upon completion of the transaction Apex will add a further $50 billion in assets under administration (AuA), taking its global total to $350 billion in AuA.

Apex stated the acquisition is the latest move to achieving its goal in becoming one of the top five largest fund administrators globally.

“The addition of the Warburg team and product suite further strengthens our capabilities in the highly regulated European market as we continue to develop the most complete service offering in the sector,” said Peter Hughes, founder and CEO, Apex.

“There are benefits for both the transitioning Warburg clients and existing Apex clients in this combined offering and as we continue to grow we want to help them to grow with us.”

Apex will take on Warburg’s full depository and private equity depository solutions, as it looks to boost its ability in servicing European-regulated funds.

In October Apex announced it would take over Deutsche Bank’s alternative fund services business, a deal which saw its AuA doubled. Earlier in 2017 it also acquired Equinoxe Alternatives Investment Services, following its backing from private equity firm Genstar Capital.

Apex and Genstar Capital partnered with SALU Capital, another private equity firm, over the deal.