Herakles selects Apex’s fund administration services
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Herakles selects Apex’s fund administration services 14 October 2022US Reporter: Lucy Carter
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Private equity firm Herakles Investment Partners (Herakles) has chosen Apex Group (Apex) to provide fund administration services.
Apex’s single-source solution will offer Herakles improved efficiency and control, with the operational framework of the front, middle and back offices outsourced.
US-based Herakles specialises in investing in private and public Sub-Saharan African companies that have prepared for global expansion.
Following a 2022 Knight Foundation report which found that only 1.4 per cent of US-based AuM is managed by diverse-owned funds, Apex aims to aid diverse fund managers, and improve industry equity. The company has recently launched a diversity, equity and inclusion (DEI) solution which provides actionable insights to clients.
Krishna Prasad, US country head of Apex, says: “Our purpose as a business is to drive positive change for a more inclusive, equitable and socially responsible future, and to be the partner of choice to help diverse investor groups and management teams achieve their potential. Addressing DEI in the global economy and capital flows is an essential part of this. Our fund administration service [will allow] the Herakles team to focus on raising and investing capital to drive the global expansion of African businesses.”
Aubrey Sibanyoni, co-founder and CEO of Herakles, adds: “We chose to partner with Apex Group not only based on the strength of their services, but also because of our shared values and commitment to championing DEI in the financial services industry. We look forward to working together to unlock the untapped economic potential of capital deployed by diverse management teams. Their services will ensure that Herakles are able to efficiently invest capital, report to our investors and manage capital with the highest levels of compliance and transparency.”
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