Apex acquires Maitland operations 09 January 2023UK Reporter: Lucy Carter
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Apex Group (Apex) has completed its acquisition of Maitland International Holdings’ (Maitland) fund services and third-party management company business operations.
The group will gain US $200 billion of assets under administration and $17 billion of assets under management.
Providing fund administration, transfer agency and management company services, Maitland’s 124 direct investment managers and 25 fund sponsors will benefit from Apex’s single-source solution. This includes global compliance solutions, ESG ratings, reporting and advisory and digital banking.
Through the acquisition Apex will onboard Maitland’s 570 employees, bolstering the company’s presence in the UK, Guernsey and Luxembourg. The group will also be able to build on its South African outpost, doubling its employee headcount in the region to 1000.
Peter Hughes, founder and CEO of Apex, says: “The strategic addition of Maitland adds greater product depth and geographic reach to our fund administration and management company offering. We are excited to build multiple strategic hubs in South Africa to access the abundant pools of talent that we need to support both our South Africa and global client bases, enabling them to concentrate on their core focus of generating returns.”
Steven Georgala, CEO of Maitland, adds: “We are pleased to announce the successful close of the sale of the fund services and Manco business operations to Apex. Following this transaction, Maitland ceases to provide fund or management company services.”
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