Apex Group has partnered with investment and property management software company Yardi to deliver a new global solution to the fund administrator’s real estate clients.
The move comes as the fund services provider continues to focus on illiquid private markets as a source of growth.
Yardi’s product, Voyager, is now available to all Apex real estate clients with either direct property investments or property investments via special purpose vehicles.
Apex said the collaboration enhances its ability to provide independent property level accounting and reporting to clients.
“Yardi Voyager is an impressive new offering that we’re excited to bring to our clients,” said Melanie Cohen, global head of private equity and real estate at Apex Group. “
“It adds further weight to our private equity and real estate suite of solutions and this brand new tool will enable enhanced efficiencies throughout the entire value chain; from property through to fund structures for our real estate clients reducing workloads and human errors. The Yardi tool, combined with our existing extensive real estate capabilities and knowledge, allows us to bring yet another layer of value to our clients.”
Apex made a similar move for its private markets segment last year through a technology partnership with BlackRock-owned technology firm eFront.
The agreement allowed Apex to offer an investor communication portal labelled Investment Café to its private equity clients.
In March last year, Apex added another private equity fund administrator to its ranks when it acquired Broadscope, adding a further $40 billion in assets under administration (AuA) to its portfolio.
The expansion of its services came following the takeover of Deutsche Bank’s alternative investment fund services team in 2017 and private equity fund administrator Ipes in 2018.