Apex Group has been selected by Abu Dhabi-based frontier markets fund manager Frontera Capital Group to provide a full suite of fund services, marking the latest in a string of mandates in the Middle East region for the global fund services provider.
Apex will provide Frontera with fund management, administration, custody and corporate services, allowing the firm to utilise Apex’s single-source solution with a unified point of contact across all aspects and operational demands of the fund.
Frontera stated it selected Apex due to their range of relevant solutions, depth of experience and reputation for providing a responsive, flexible and solution-oriented service.
“Having all our fund services needs met by one provider with all solutions available under one roof will allow us to focus on the job at hand: raising capital, structuring and deploying it in target frontier markets,” said Dr Vicente Pons, managing director and shareholder, Frontera Capital.
“Following their appointment, the Apex team has demonstrated exceptional expertise, international capabilities and a deep understanding of our strategy as well as the opportunities and challenges facing our business.”
Apex will also provide fund services for Frontera’s operations in the UK and US, which is also currently raising $400 million for their new Luxembourg-domiciled fund from European institutional investors with final close expected towards the end of Q1 2021.
“Frontera plays a key role in providing international investors with access to, and understanding of, frontier markets,” added David Rhydderch, global head of financial solutions, Apex Group.
“As they raise their new fund, we are excited to provide the range of solutions required to support their fund operations. This is further evidence of our single-source offering presenting a compelling solution for investors looking to achieve efficiency and seamless integration throughout the value chain.”
The mandate marks the latest in a string of deals for Apex in the region over recent months, including fund administration and middle-office mandates for a number of UAE-based asset managers, while also securing an outsourcing mandate from an Egyptian private equity fund.
In September, it also acquired UAE-based compliance and risk advisory firm, Praesidium Advisory, as it looks to continue to build out its presence in the region.