Apex Group has won two new fund administration mandates this week, firstly from real estate fund Masdar Green and then from US Gold Opportunity Fund.
Masdar Green REIT, is the first REIT in the region to invest solely in sustainable real estate assets. The fund is managed by Masdar Capital Management, a fund manager incorporated in the Abu Dhabi Global Market (ADGM). Under the private REIT regime, the Masdar Green REIT offers the opportunity for professional investors to invest in a portfolio of stable, income-generating, sustainable real estate assets located in Masdar City, and the UAE.
Apex will provide fund administration services and property level accounting and reporting services to the fund. It will work in partnership with leading UAE asset manager, Emirates NBD Asset Management, provider of management services for the vehicle, in a strategic partnership with Masdar Capital Management.
The second mandate win was for the US Gold Opportunity Fund LP a qualified opportunity fund that offers investors a liquid approach to investing in gold bullion.
USGO is structured as a qualified opportunity fund to provide its investors the potential tax benefits of opportunity zone legislation, while also promoting economic development in challenged communities.
“We are excited to appoint Apex as our independent fund administrator not only because their Portland, ME, office sits within an Opportunity Zone, but also because it is clear that they share our commitment to making a social impact and support our vision to fuel economic development in economically challenged communities,” said Bob Enck, president and chief executive officer at US Gold Opportunity Fund.
“We have been particularly impressed by the responsiveness of their client service model and expertise of the team. We look forward to working together and the resulting efficiencies which will benefit the fund as we continue to scale.”
In between Apex Group’s frantic M&A activity this year, the administrator has also won a range of mandates across the world through a range of funds. The wins include agreements with Bee Alternatives, American Venture Partners, and Federation Asset Management.