Apex Group has completed the successful integration of the Custom House business, adding $24 billion to the group’s total assets under administration.
The integration means Custom House clients now have access to an additional 18 jurisdictions, as well as Apex’s local service delivery model.
First announced in August 2018, the acquisition of Custom House adds over 200 employees to the Apex Group in addition to offices in several new locations including Beijing, Chicago, Geneva, Rotterdam, Shenzhen and Sofia.
According to Apex, combining the Custom House business into Apex demonstrates its ongoing commitment to build on its existing hedge fund capabilities, while also expanding its offering in the private equity space.
Apex also said the cross-jurisdictional support the group can deliver is well timed to support managers looking to Brexit-proof their offerings.
Custom House chief finance officer, Helen Breen and COO, David Barry, will remain part of the Apex Group.
Peter Hughes, founder and CEO of Apex, commented: “The Apex and Custom House businesses were established in a similar way and therefore are a natural fit. The Custom House team add valuable hedge experience to our existing global hedge teams and the close of this acquisition will be mutually beneficial for both Custom House and Apex clients.”
Commenting on the integration Breen, said: “We are really happy with the seamless transition of the Custom House business into the Apex Group. The teams have integrated very smoothly and our clients have retained the same attention and service levels we have always been proud to deliver.”
She added: “This is a new chapter for the Apex Group and we are extremely excited to be part of it”.
