Apex Group has partnered with an Asian-based FinTech that provides high-net worth investors greater access to alternative assets after leading a fundraising effort for the firm.
The global fund administrator will work with Hong Kong-based BITE Investments to enable Chinese and other Asia-Pacific (APAC) investors to build their own USD alternative investment portfolio.
“The opportunity to partner with BITE comes at an ideal time for Apex as we focus our APAC strategy on addressing this underserved space and market opportunity,” said Peter Hughes, founder and CEO, Apex Group.
“The combination of our fund, financial and corporate services and longstanding presence in the region, enables us to partner with BITE to provide a technology enabled distribution platform to build Asia’s premium online alternatives investment platform for high net worth investors.”
The APAC region has become a core strategic focus for Apex Group, where it has seen growth from its Hong Kong and Singapore offices in the wake of the COVID-19 pandemic. The group most recently appointed a new head of APAC to build on the $40 billion of assets it administers in the region, and it also obtained a trust and corporate services license in Hong Kong.
Private markets have been experiencing a purple patch in recent years, with investors actively looking at private equity, debt and credit, along with real estate and infrastructure.
High-net-worth investors and family offices are increasingly seeking access and exposure to these alternative asset classes to achieve portfolio goals of diversification and income.
“We are hugely excited by the partnership with the Apex and the ability to leverage their institutional global reach to bring BITE’s technology driven access to outstanding alternative investment opportunities. The partnership creates arguably the most compelling solution for investors in the marketplace,” said William Rudebeck, founder and CEO of BITE Investments.
Last year, State Street partnered with FinTech firm iCapital Network to combine its registered transfer agency and private market fund administration capabilities with the platform’s technology and distribution network to enhance the offering and servicing of US registered funds.