Agriculture fund manager appoints Apex Group for fund administration
Apex Group Ltd. (“Apex Group” or “The Group”), a global financial services provider, today announces its appointment by agri fund manager Laguna Bay, for the provision of fund administration services.
Laguna Bay is a full-service fund management and direct investment platform specialising in food and agriculture. Apex Group has been appointed to provide fund administration services to Laguna Bay Fund 2, which is set to raise up to A$1 billion for investment in a diversified portfolio of high-quality food and agriculture investments in targeted regions across Australia and New Zealand.
Laguna Bay Fund 2 is Laguna Bay’s third investment vehicle, and second flagship fund, having successfully originated, structured, managed and exited institutional grade assets in its first two vehicles.
Fund administration is at the core of Apex’s single-source solution, delivering timely, accurate and independent services, underpinned by market leading technology platforms. According to a recent Total Economic Impact (TEI) report by Forrester Consulting, clients of Apex Group’s single-source solution achieve, on average, cost benefits of $5.39m, with a net present value of $2.75m over a three-year period.
This appointment follows Apex Group’s continued growth in Australia and New Zealand, including the strategic acquisitions of Mainstream Group and MMC, and new client wins in the environmentally-driven real asset space including Octopus Investments Australia, New Forests’ Tropical Asia Forest Fund 2, Federation Asset Management’s Sustainable Australian Real Asset Trust and INVL Asset Management’s Sustainable Timberland and Farmland Fund II.
David Potter, Head of Business Development – Australia at Apex Group comments: “We are pleased to announce our appointment to provide fund administration services to Laguna Bay’s new fund as they build a portfolio of low-risk sustainable food and agricultural assets. Apex Group’s range of scalable fund administration services will enable the Laguna Bay team to focus their time and resources on the active management of their investments and implementation of sustainability initiatives.”
[Benjamin Trickett – Managing Director, Funds Management at Laguna Bay further adds: “The Apex Group team have demonstrated an ability to deliver their services on a local scale and to provide a tailored approach suitable to the unique requirements of an Australian investment vehicle. We look forward to working together to invest Laguna Bay Fund 2 with the highest levels of governance and operational efficiency.”
About Apex Group
Apex Group Ltd., established in Bermuda in 2003, is a global financial services provider. With over 80 offices in 40 countries worldwide and more than 10,000 employees upon the close of announced acquisitions, Apex Group delivers an expansive range of services to asset managers, financial institutions, private clients and family offices. The Group has continually improved and evolved its capabilities to offer a single-source solution through establishing the broadest range of services in the industry; including fund services, digital onboarding and bank accounts, depositary, custody, super ManCo services, corporate services including HR and Payroll and a pioneering ESG Ratings and Advisory solution. Apex Group’s purpose is to be more than just a financial services provider and is committed to driving positive change to address three core areas; the Environment and Climate Change, Women’s Empowerment and Economic Independence, Education and Social Mobility.
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About Laguna Bay
Laguna Bay was established in 2010 and is one of the longest standing agri fund managers in Australia. Led by experienced food and agriculture executives, Laguna Bay builds scalable and sustainable agribusinesses on research-driven, values-based investment strategies to deliver attractive returns to investors. Over the past 10 years, Laguna Bay has developed into a market leading food and agriculture investor with a track record of success, including being part of the successful sale of Australia’s largest almond portfolio in 2020. The teams’ far-reaching networks and industry experience have attracted top tier operators and strong investment opportunities which the firm has pursued with diligence and skill.