Apex Fund Services and Genstar Capital have completed the recapitalization of Apex and the subsequent acquisition of Equinoxe Alternative Investment Services.
“The addition of Equinoxe further expands Apex’s middle office capabilities, and the group will continue to build on this momentum for growth across all areas of service as we focus on our target of becoming a top five global fund administrator within the next five years,” said Peter Hughes, Apex founder.
The transaction was first announced in May, and was subject to regulatory approval in several of the jurisdictions in which Apex and Equinoxe operate.
“The completion of this deal symbolizes an exciting time for independent fund administrators,” said Steve Castree of Equinoxe. “The increasing demand from funds for global service providers that can maintain flexibility and a personal service means we are able to join forces and become one of the world’s top 15 largest fund administrators. Joining Apex is a natural fit for Equinoxe as we already have a shared philosophy for always putting client service standards first.”
The combined firm now administers $80 billion in assets, servicing its global client base through 35 offices and 720 staff worldwide. Hughes retains a significant equity stake in the combined business and serves as CEO of the combined entity.
