PFS-PAXUS user, Apex acquires Atlantic Fund Services

Apex Group Ltd. (“Apex”) today announced the acquisition of Atlantic Fund Services (“Atlantic”), a US-based fund administrator serving the traditional and alternative mutual fund market.  Apex is a portfolio company of Genstar Capital. The acquisition adds a further $12 billion in assets under administration to the Group’s portfolio and is a strong strategic fit for Apex’s US expansion given Atlantic’s complementary mutual fund client base and specialist 40-Act service capabilities. The addition of the Atlantic business further builds on Apex’s growing presence in North America adding 75 people in Portland, Maine to Apex’s existing offices in Atlanta, Charlotte, Chicago, Costa Mesa, New York and San Francisco. The combined group now delivers a full suite of solutions to US managers and continues to win larger mandates in the region as it further expands its product portfolio and local expertise. Atlantic’s clients will see immediate value from the transaction, gaining access to Apex’s global network of 40 offices in addition to its full range of service capabilities: from fund administration and middle office, to depositary, banking solutions and corporate services. This transaction is the latest in a series of highly strategic acquisitions made by Apex over the past eighteen months solidifying its position as the fifth largest administrator in the world. Apex announced the acquisition of Deutsche Bank’s Alternative Fund Services business at the end of 2017, followed by the acquisitions of M.M.Warburg & CO’s Asset Servicing business, LRI Group, Ipes and Custom House in 2018. Combined, these acquisitions strengthen Apex’s suite of services across all asset classes on a local, regional, and global scale. Terms of the agreement are not being disclosed. Please read the full announcement here.