PAPE Fund Managers, a division of private equity fund manager boutique PAPE Group, has appointed Apex Group to provide fund administration services. PFM acts on behalf of the PAPE Fund 3 Limited Liability Partnership comprising nine investor groups.
PAPE Fund Managers (PFM), a division of private equity fund manager boutique PAPE Group (PAPE), has appointed Apex Group to provide fund administration services. PFM acts on behalf of the PAPE Fund 3 Limited Liability Partnership comprising nine investor groups.
PFM which provides long-term equity risk capital into South African mid-cap unlisted enterprises, has been raising and managing funds since 2006. The firm’s third fund PAPE Fund 3, a private equity limited liability partnership fund capitalised at ZAR1.03bn closed in early 2020 and has now finished deploying capital in its six investee companies.
Apex Group has an expanded remit to provide fund administration services to Fund 3 including fund accounting, investor/LP servicing, cash management and regulatory reporting solutions.
Apex Group recently entered the South African market through the acquisitions of Sanne Group and Maitland, and now employs over 1,200 people across offices in Johannesburg and Cape Town.
