Apex launches LRI Middle East to offer ManCo services to Abu Dhabi clients
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Apex launches LRI Middle East to offer ManCo services to Abu Dhabi clients 16 November 2020Abu Dhabi Reporter: Maddie Saghir
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Apex Group has launched its subsidiary LRI Investment Management Services (LRI Middle East) in the Abu Dhabi Global Market (ADGM) following full regulatory approval by the ADGM Financial Services Regulatory Authority.
LRI Middle East will offer third-party management company (ManCo) services to qualified investor funds and exempt funds.
Services offered by LRI Middle East include ADGM ManCo, investment management, risk management and valuation, relationship management, fund structuring and setup, regulatory reporting, and compliance.
As part of the Apex Group, LRI Middle East’s clients will be able to benefit from access to administrative and middle office, banking, depositary and custody services offered through the group’s global network.
Amin El-Kholy, managing director at Apex Group commented: “We are excited to announce the launch of LRI Middle East, allowing our clients in the region to access a true single-source solution.”
“We have been delivering services locally in the UAE for nearly 15 years, and the announcements of recent months show our continued commitment to the region, and offering value-added services for our current and future clients. The addition of third-party ManCo services to qualified investor funds and exempt funds enables us to enhance both new and long-standing local relationships even further.”
Last month,
Apex announced the acquisition of FundRock. Expected to be complete in Q1 2021, the acquisition will complement the group’s 2019 acquisition of Luxembourg-based ManCo LRI.
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