Apex Group has been appointed by Encore Capital Management, a real estate developer, operator and institutional investment management firm, to provide fund administration, investor reporting, and tax services.
Encore is a longstanding tax compliance and structuring client of tax services provider FTS, which saw a majority shareholder acquisition by Apex in April this year.
As part of Apex, FTS’ existing clients, including Encore, benefit from access to the group’s global, cross-jurisdictional services, such as fund administration, digital banking and compliance solutions.
Commenting on the mandate, William McEnroe, founder of FTS, says: “This appointment by Encore to provide fund administration services is evidence of the strategic rationale of the acquisition of a majority shareholding in FTS by Apex Group. Our clients are now able to access a full suite of services, in addition to their existing tax compliance and structuring delivered by FTS’ experienced team.”
Michael Sheahan, global head of real estate at Apex Group, adds: “As the real estate asset class continues to see significant allocations from institutional investors, it is important that managers choose the right partners to support their administrative and operational needs as their funds scale. Apex’s single-source solution, delivered by an experienced team, offers the efficiency and convenience of both fund administration and tax services delivered via one relationship.”
The mandate with Encore follows Apex’s recent extended partnership with DSG Consumer Partners, a venture capital fund based in India and southeast Asia, to provide fund solutions to the Singapore-domiciled fund, DSG Consumer Partners VCC.
This expands on Apex’s existing relationship with DSG, having been initially appointed in 2019 to provide a range of transfer agency, fund accounting, taxation, corporate secretary, compliance and directorship services to DSG’s fund vehicles.
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