Apex has completed the acquisition of private equity administrator Ipes and the Luxembourg-based asset servicing business of M.M Warburg & Co Asset Management.
The inclusion of the Ipes business adds $165 billion in assets under administration to the group’s global portfolio.
Last week, Apex also closed the Warburg business, which has now been rebranded to ‘European Depositary Bank’ under the group.
The competition of the two businesses follows its recent custody partnership with Citi, enabling Apex to provide a full range of asset servicing, depositary banking and fund administration services.
“The Ipes team is extremely well qualified and fits seamlessly into our own, bolstering both our private equity expertise and presence in Europe,” said Peter Hughes, founder and CEO, Apex Group.
“The combination of Apex’s existing fund administration, banking and depositary, integrated custody solution and comprehensive corporate services offering means we now have the ability to deliver a full outsource solution for clients on a global basis.”
Apex also announced last week it would acquire the Corporate and Private Client Services (CPCS) and Throgmorton business from Link Group’s Asset Services division, increasing Apex’s assets under administration to $600 billion.