Apex Group has been appointed to provide full fund administration services to Stockholm-based alternative investment manager Keel Capital.
The mandate will include fund administration, depositary and custody services to Keel Capital’s funds under the Apex and European Depositary Bank brands.
The deal is the third mandate win in as many weeks for Apex, which recently announced agreements with private equity firm Lorax Capital Partners and UAE-based asset manager and banking platform SHUAA Capital.
“We chose to partner with Apex due to the breadth of service, experience and proven ability to provide a flexible solution that meets our needs, now and in the future,” said Gustaf Johansson, COO Keel Capital.
“We have received the highest levels of service and look forward to continuing to work with Apex as our independent third–party provider.”
Outside of mandate wins, Apex has also continued its growth through acquisitions. Last week, the group announced it would be acquiring Banco Modal’s fund administration (MAF) business in Brazil. This followed agreements to purchase of FundRock Management Company SA and FundRock Partners, and UAE–based compliance and risk advisory firm, Praesidium Advisory.
“We are delighted to be working with Keel Capital to provide our full suite of services across fund administration, depositary and custody functions,” said David Rhydderch, global head of financial solutions at Apex Group.
“Keel Capital will benefit from our highly experienced and tenured local teams, able to offer a single source solution for all fund administration needs.”