Apex and Participant Capital develop fund admin partnership
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Apex and Participant Capital develop fund admin partnership 16 May 2023US Reporter: Lucy Carter
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Apex Group has expanded its partnership with real estate investment fund manager Participant Capital Advisors, providing fund administration services to the firm’s new US fund through its Miami office.
The Participant Capital Sun Belt Multifamily Development Fund I will invest in multifamily developments across the Sun Belt states, particularly in Florida. Available to US accredited investors, the fund is targeting US $250 million in capital commitments.
In addition to the new fund, Apex will provide depositary and banking services to Participant Capital’s Luxembourg-domiciled funds through its subsidiary, the European Depositary Bank. The group has provided fund administration services to the funds since 2022.
Commenting on the appointment, Felix Haydar, operations director at Participant Capital, says: “We have been impressed by the responsiveness and flexibility of Apex’s Miami team and are pleased to expand our relationship with them. By outsourcing our fund administration, depositary and banking requirements to Apex, we can focus on growing our business and expanding our real estate fund offerings to a wider range of investors.”
Alex Contreras, senior vice president for business development at Apex, adds: “Apex Group’s Miami presence continues to enable us to better share our global experience and outlook to support our clients locally and drive their operational efficiency.”
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