The Carlyle Group’s Global Credit platform has led a preferred equity investment for Apex Group Ltd, a provider of fund administration and financial services to the asset management and corporate sectors. Apex will use the capital to support ongoing growth and acquisition activities, including Apex’s previously announced acquisitions of Luxembourg-based FundRock Management Company SA and Banco Modal’s Alternative Fund Administration business in Brazil.
Apex recently reached the milestone of USD1 trillion in assets serviced across administration, custody, depositary and under management, reinforcing its strength as a leading financial services provider in the asset management space. It is a privately-held company backed by Genstar Capital and Founder and CEO Peter Hughes.
Alex Popov, Carlyle’s Co-Head of Illiquid Credit Strategies and Head of Carlyle’s Credit Opportunities team, says: “Apex is an attractive platform that is strongly positioned to drive growth through targeted M&A, and by capitalising on underlying organic growth momentum in the fund management industry. We are pleased to partner with the team, including building on an already strong relationship with Genstar, to provide the long-term capital Apex needs to accelerate its growth strategy.”
Peter Hughes, Founder and CEO of Apex Group Ltd, says: “We have continually enhanced our service offering to strengthen our leadership position as a single-source solution for our clients. We continue to see significant opportunity for growth, and this capital, combined with Carlyle’s sector expertise and partnership approach, will go a long way in helping us achieve our long-term growth strategy.”