[ N E W S R E V I E W | F U N D A D M I N I S T R A T I O N M & A ]
Since the backing of Genstar Capital five years ago , Apex Group has completed 31 acquisitions to bring the value of its assets serviced to almost $ 3 trillion .
Apex Group ’ s chief executive has told Global Custodian that the completed acquisition of alternative asset service provider Sanne has given the organisation the scale it set out to achieve five years ago when it embarked on an unprecedented M & A journey . The deal – said to be for around £ 1.51 billion ($ 1.83 billion ) – is the 31st acquisition since the investment of Genstar back in 2017 . This year alone , Apex has acquired Australian fund administrator Mainstream Group , Maitland ’ s fund services and ManCo business and New Zealand-based fund administrator ,
MMC . In 2021 , Apex also added businesses in Brazil , Australia and Latin America . “ We really have the comprehensive set of products we focused on building since Genstar invested five years ago and now we can move forward with that product set and try to create leading businesses in as many geographies as we can ,” Hughes told Global Custodian . “ It gives us the scale that we want to get to which allows us to have the product set and geographic coverage which we feel more confident than other providers . From now on we can focus on enhancing that and investing into pieces along the edges .” The Sanne and Mainstream Group deals have been landmark acquisitions for Apex , which really propelled itself into the top tier of administrators when it acquired Deutsche Bank ’ s alternative asset servicing business in 2018 . Many of the other deals have expanded its presence geographically or through service offerings such as depositary , custody , super ManCo services and corporate services . Apex has also been prioritising the buildout of its ESG Ratings and Advisory solution internally . With the independent administration
16 Global Custodian Fund Services Annual 2022