Apex secures $30 million injection 08 June 2011New York Reporter: Ben Wilkie
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Apex Fund Services has secured a $30 million commitment from FTV Capital for a minority interest in the company. FTV Capital, the first institutional investor in Apex, is a growth equity investor with experience and a global network in the financial services industry, and especially asset management.
Apex has 23 offices worldwide, including Singapore, Shanghai, Dubai and Switzerland, and delivers global fund administration solutions to investment managers investing in traditional and alternative assets. Apex offers clients a wide variety of specialised and integrated products supporting middle and back office fund administration, complex derivatives, risk reporting and corporate secretarial and fund formation administration, as well as specialist start up services to asset managers.
During 2010 Apex launched the world’s first real-time Middle Office (MOOR) service, giving investment managers immediate on the spot access to their portfolios. In addition, Apex offers a number of platforms giving clients a diverse range of fund launch options.
“Led by an exceptional management team, Apex has built one of the world’s fastest growing independent fund administration businesses through its innovative platform for emerging fund managers,” said Brad Bernstein, FTV Capital partner, head of the firm’s New York office, and new Apex board member. “Apex is unique in its ability to reach globally, service locally and provide cross-jurisdictional solutions and best practices; clients benefit significantly from the company’s deep expertise and a local presence that enables flexible, custom solutions.”
“This $30 million commitment will enable Apex to accelerate its model of delivering an increasing range of client service orientated products into the world’s major financial centres. Investment managers serviced by Apex have come to expect the highest level of client servicing available and this investment will help ensure these standards are maintained,” said Peter Hughes, Apex group managing director.
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