Apex Group has been appointed to provide fund administration, investor reporting and investor portal services to multifamily investment and asset management firm RailField Partners.
As part of the mandate, Apex will support RailField’s fund accounting needs for their first institutional LP funds.
RailField is based in Bethesda, Maryland and has developed partnerships with a range of investors including family offices, pension funds and private equity firms.
RailField has transacted over $215 billion in multifamily real estate, having formed a portfolio of 14 properties consisting of about 4,500 units in eight markets across the Mid-Atlantic, Southeast and Texas.
By partnering with Apex, RailField will be able to access the range of technology that underpins Apex’s offering, which includes the Apex Investor Portal, a cloud-based system which, says Apex, enhances investor reporting by providing secure access to information anytime and from any device.
“There’s strong investment appetite among managers targeting alternative and specialty real estate, with many opportunities for growth that can be overwhelmed by administrative needs as a fund is getting off the ground,” said Jason Meklinsky, head of business development, Americas, at Apex Group.
“The combination of institutional-type investment strategies, innovative asset development and attractive real estate market fundamentals – especially compared to traditional investment sectors – means that these opportunities will continue. Our single-source solution, delivered by our experienced team, will ease the pressures surrounding any new fund launch and will allow RailField to continue their focus on growth.”
This latest mandate follows a number of similar wins for Apex in recent months across private equity firms, real estate funds and hedge funds.
In the last month alone, Apex has won fund administration mandates from the life insurance company of Azimut Group, private equity firm Revelstoke Capital and boutique asset management and advisory firm Marlin Capital Partners.
“The need for efficiency and transparency is critical in our work, particularly when it comes to administrative requirements and investor relations,” said Todd R. Watkins, partner, chief operating officer and general counsel at RailField Partners.
“Apex’s proven track record in supporting real estate fund launches, combined with their depth of professional expertise in private capital and the solutions they’ve created to support managers’ needs, made them the clear fit for us. We look forward to the support and guidance that their platform and attentive team will provide.”