Venture capital investor Blue Collective has selected Apex Group to provide its fund administration services.
New York-based Blue Collective already has a partnership with Apex to provide its tax services.
The renewed mandate means Blue Collective will also have access to Apex’s fund administration services.
Blue Collective was previously a tax compliance and planning client of FTS, a tax services provider. Apex acquired major shares of FTS in April.
As part of this earlier acquisition, Blue Collective now also benefits from Apex’s digital banking and compliance solutions, as well as its ESG ratings and advisory services.
Commenting on the new mandate, Larry Rukin, managing director of FTS, says: “We are pleased to announce the expansion of our relationship with the team at Blue Collective to provide fund administration services in addition to existing tax compliance, planning and consultancy support.”
“Apex Group’s acquisition of FTS continues to benefit our clients, who are now able to access the group’s single-source solution, which offers the efficiency and convenience of both fund administration and tax services delivered via one relationship.”
Jay Trickett, partner at Blue Collective, comments: “We have been impressed by the FTS team’s extensive knowledge of the tax requirements of our fund structures, and their acquisition by Apex Group has provided us with access to an expanded range of services supported by leading technologies.
“Apex Group’s deep industry experience and track record in fund administration will allow us to focus on our core purpose of investing in, and supporting, exceptional growth businesses.”
