Apex announces acquisition of Ipes 08 June 2018Bermuda Reporter: Maddie Saghir
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Fund administrator Apex and Genstar Capital have acquired Ipes, another fund administrator.
This acquisition will boost Apex’s private equity capabilities and depositary services across Europe, adding $165 billion in assets under administration to the group’s portfolio.
Additionally, this will position Apex as the fifth largest fund administrator globally, and the acquisition of Ipes from pan-European private equity firm, Silverfleet Capital, will further strengthen the breadth of service and expertise in the European market.
Peter Hughes, founder and CEO of Apex Fund Services, commented: “Our focused growth strategy is designed to build out the global Apex portfolio of services and increase our expert resource across key markets.”
“Throughout this growth we remain steadfast and committed to upholding the hallmarks of the Apex brand—offering flexibility in the solutions we offer, exceptional locally delivered customer service, and wrapping that framework around best-in-class technologies.”
Chris Merry, chief executive of Ipes, said: “At Ipes, we understand the importance of staying at the forefront of industry and regulatory developments in order to meet the evolving needs of today’s clients.”
“With this in mind, Apex and Genstar were natural partners for us and one that mirrored our commitment to innovation and exceptional customer service.”
He added: “We pride ourselves on our dedication to providing a robust set of capabilities to clients worldwide, and we’re thrilled that Apex’s broad global reach will enable us to build out our client offerings with a number of new solutions. We’re confident this partnership will bring a wealth of benefits to both Ipes clients and Apex clients in Europe and across the world.”
Tony Salewski, managing director of Genstar Capital, said: "We are excited to continue supporting Apex in driving growth through strategic acquisitions of high-quality businesses like Ipes. Both Apex’s and Ipes’ clients will greatly benefit from the combination of these two leading and complementary businesses."
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