Sydney-based Perennial Partners has appointed Apex to provide its fund administration services for its Private Ventures Fund.
The mandate follows a series of acquisitions for Apex in the Oceania region, including Mainstream Group and New-Zealand-based MMC.
Perennial Private Ventures Fund is targeting a raise of AUS$200 million to invest in high-growth private businesses.
The fund has secured interest from private wholesale investors, family offices and superannuation funds.
Perennial has continued its existing relationship with Apex, appointing the group to deliver fund administration and transfer agency services to the fund.
In addition to traditional fund administration services, Apex will also provide Perennial Partners with custody services.
Nick Bradford, head of business development for Oceania, at Apex Group comments: “Apex’s robust suite of fund administration services will enable the Perennial team to focus on executing their investment strategy; delivering the attractive returns of early-stage venture capital but with a faster route to liquidity and lower overall portfolio risk.”
Ryan Sohn, portfolio manager at Perennial Partners, says: “As a long-standing Mainstream client, the transition to Apex Group has been seamless, and we now benefit from access to their efficient end-to-end solution including custody services, delivered by an experienced local team.”
