Apex Group has been appointed to provide fund administration and regulatory services to Bee Alternatives, an independent manager dedicated to secondary private equity investments.
Apex’s fund administration services ensure the delivery of timely, accurate and independent portfolio accounting, fund and investor reporting underpinned by a range of technologies.
Bee Alternative’s partnership with Apex provides the fund with access to eFront software services.
This delivers transparency through frequent and detailed reporting, fair calculation of investments, sophisticated accounting, calculation of carried interest under complicated waterfall models and complex investment structures.
According to Yuko Shimizu, head of sales, Japan at Apex, the Asia-Pacific region now accounts for a growing portion of secondaries fundraising, and the group is delighted to support Bee Alternatives, as they harness this potential for significant growth.
Shimizu says: “By leveraging Apex’s experience and our comprehensive solutions and technology platforms, Bee Alternatives will be enabled to deliver more precise information and transparent communication to their limited partnerships, whilst achieving operational efficiencies.”
Fumiki Otokuni, CEO and co-founder at Bee Alternatives, comments: “We are delighted to appoint Apex following a competitive tender process, as we believe they are the global player with the deepest understanding of our business and the specific administrative and regulatory needs of secondary funds.”
“Most importantly, the team at Apex, led by Yuko, have reassured us throughout the process, and have demonstrated unparalleled the enthusiasm and aptitude required to provide us with flexible solutions,” adds Otokuni.
Last week, Apex announced its acquisition of the ARM Swiss Representatives, an independent Swiss Financial Market Supervisory Authority-regulated firm, providing Swiss representation and distribution services to foreign fund managers.
