Fund administrator Apex Fund Services has sold a minority interest in the firm for $30 million to FTV Capital.
FTV Capital, the first institutional investor in Apex, is a growth equity investor with extensive experience and a global network in the financial services industry, especially asset management.
This $30 million commitment will enable Apex to accelerate its model of delivering an increasing range of client service orientated products into the worlds major financial centers, says Peter Hughes, group managing director of Apex. Investment managers serviced by Apex have come to expect the highest level of client servicing available and this investment will help ensure these standards are maintained.
Apex has 23 offices worldwide, including Singapore, Shanghai, Dubai and Switzerland, and delivers global fund administration solutions to investment managers investing in traditional and alternative assets. Apex offers clients products supporting middle- and back-office fund administration, complex derivatives, risk reporting and corporate secretarial and fund formation administration, as well as specialist start up services to asset managers.
Led by an exceptional management team, Apex has built one of the worlds fastest-growing independent fund administration businesses through its innovative platform for emerging fund managers, says Brad Bernstein, partner at FTV Capital and head of the its New York office. Apex is unique in its ability to reach globally, service locally and provide cross-jurisdictional solutions and best practices; clients benefit significantly from the companys deep expertise and a local presence that enables flexible, custom solutions.
(CG)