PFS-PAXUS user, Apex Fund Services, announces acquisition of Deutsche Bank's Alternative Fund Services Business

Apex Group Ltd and Genstar Capital have jointly announced the acquisition of the Deutsche Bank Alternative Fund Services (“AFS”) business. The latest joint announcement from the firms reveals the rapid expansion of Apex since the company was recapitalized with Genstar and simultaneously acquired Equinoxe Alternative Investment Services. The purchase of the AFS business is the most recent significant step in Apex’s movement towards its stated goal of being a top five global fund services business. The transaction will add $170 billion in AUA, propelling Apex to become the eighth largest administrator in the world and the largest independent administrator. Apex’s global reach and connected operating model opens up an additional 18 investment jurisdictions to AFS clients, with local expertise available through the Apex network of offices. The combination of AFS and Apex will also enable a broader range of products and services to be offered to clients. Apex’s local service delivery model, coupled with AFS’ management, staff and platform, will ensure client service continues at the highest level. It is this service model and the global network of offices that has enabled Apex to achieve one of the fastest organic growth rates in the sector. Terms of the agreement are not being disclosed. The transaction is expected to close in the second quarter 2018. Please read the full press release here.