Compass Group selects Apex for fund and custody services
16 December 2021 South America
Image: PRANEE
American asset manager Compass Group has selected Apex Group for its custody and fund administration services for one of its South American closed-ended funds.
The mandate is specifically for Compass Group’s Latin American Private Credit Opportunities (LAPCO) which seeks to achieve USD-denominated net returns, while generating consistent current income and prioritising capital preservation within a South American private credit portfolio.
Apex Group is supporting this strategy with a fully integrated loan and fund administration solution, in addition to corporate services, depositary and banking.
Founded in New York in 1995, Compass Group specialises in managing assets for institutional investors, family offices, and high-net worth individuals.
Compass’ open-ended South American high yield fund seeks to maximise total return by identifying South American corporate debt that is mispriced relative to underlying value.
In addition, the fund will benefit from Apex’s custody services, delivered via the group’s Luxembourg-based subsidiary, the European Depositary Bank.
Compass Group has a team of more than 300 professionals located in nine different offices across South America managing, advising, and providing distribution services.
Aman Bahel, managing director, and Europe head of business development at Apex Group comments: “The private and public debt asset classes in emerging markets continue to mature and attract inflows from European institutional investors. We are delighted to be appointed by Compass Group to act as a single-source provider of tailored solutions which meet the specific needs of their varied fund structures and investment strategies.”
Gerard Benares, chief operating officer at Compass Group, says: “We appointed Apex due to their ability to deliver a wide range of services and underpinned by a robust and flexible technological infrastructure. We have been impressed by Apex’s international footprint and their ability to deliver solutions spanning the regulatory, operations, banking and technology needs of our funds.”
The mandate is specifically for Compass Group’s Latin American Private Credit Opportunities (LAPCO) which seeks to achieve USD-denominated net returns, while generating consistent current income and prioritising capital preservation within a South American private credit portfolio.
Apex Group is supporting this strategy with a fully integrated loan and fund administration solution, in addition to corporate services, depositary and banking.
Founded in New York in 1995, Compass Group specialises in managing assets for institutional investors, family offices, and high-net worth individuals.
Compass’ open-ended South American high yield fund seeks to maximise total return by identifying South American corporate debt that is mispriced relative to underlying value.
In addition, the fund will benefit from Apex’s custody services, delivered via the group’s Luxembourg-based subsidiary, the European Depositary Bank.
Compass Group has a team of more than 300 professionals located in nine different offices across South America managing, advising, and providing distribution services.
Aman Bahel, managing director, and Europe head of business development at Apex Group comments: “The private and public debt asset classes in emerging markets continue to mature and attract inflows from European institutional investors. We are delighted to be appointed by Compass Group to act as a single-source provider of tailored solutions which meet the specific needs of their varied fund structures and investment strategies.”
Gerard Benares, chief operating officer at Compass Group, says: “We appointed Apex due to their ability to deliver a wide range of services and underpinned by a robust and flexible technological infrastructure. We have been impressed by Apex’s international footprint and their ability to deliver solutions spanning the regulatory, operations, banking and technology needs of our funds.”
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