Apex Group appointed by American Ventures Partners for fund solutions

Following a competitive tender process, Apex Group has been chosen to provide fund administration, tax compliance and related corporate services to American Ventures

By Wesley Bray

Apex Group has been appointed as fund administrator by US-based commercial real estate investment company American Ventures Partners.

The global financial services firm was selected to provide fund administration, tax compliance and related corporate services to support American Ventures, following a competitive tender process.

Apex said in a statement that it was appointed due to its ability to offer a single-source suite of fund and entity administration services to American Ventures, backed by its functional and real estate industry expertise and leading technology solutions.

Apex’s ability to support distribution and placement of the American Ventures’ Fund was another reason why it was chosen for its fund solutions.

“As the real estate asset class continues to offer compelling opportunities for institutional investors, we see alternative managers and investors seeking much greater density of products and solutions from their service providers,” said Michael Sheahan, global head of real estate at Apex Group.

“Apex’s position as single-source financial services provider offers efficiency and convenience of services delivered via one relationship, with the unique capability to support clients from fund distribution, through administration, custody, depositary and trustee services, banking and related financial solutions, entity and corporate solutions. American Ventures has an exceptional track record as one of the top-performing, institutional real estate investment managers in the United States and Apex’s appointment will allow them to focus on their exciting pipeline of acquisitions.”

The mandate follows from the announcement in May this year that Apex Group was appointed by Federation Asset Management as the fund administrator, share registry and regulatory services provider of its new energy-transition investment fund.

“We are delighted to have selected Apex whose breadth of services and experience will allow us to focus on the job at hand: efficiently raising and deploying capital to generate returns for our investors,” said Philip Blumberg, founder and managing partner of American Ventures Partners.

“We have been particularly impressed with the team’s ability to support the distribution and placement of our fund, a capability which was central to our decision to appoint Apex. Combined with the depth of their real estate industry expertise and the ability to adapt technology to meet our specific requirements has made them the clear partner of choice for American Ventures Partners’ operations.”

Apex Group has had a spree of acquisitions this year, acquiring Israeli fund administrator, Tzur Management, as well as Brazilian fund administrator, BRL Trust Investimentos. Apex are still in line to acquire Mainstream Group after it was announced that SS&C pulled its offer in the bidding war for the Australian fund administrator.