Apex Acquires Atlantic Fund


Share on facebook
Share on twitter
Share on linkedin


HAMILTON, Bermuda, March 6, 2019 – Apex Group Ltd. (“Apex”) today announced the acquisition of Atlantic Fund Services (“Atlantic”), a US-based fund administrator serving the traditional and alternative mutual fund market.  Apex is a portfolio company of Genstar Capital.

The acquisition adds a further $12 billion in assets under administration to the Group’s portfolio and is a strong strategic fit for Apex’s US expansion given Atlantic’s complementary mutual fund client base and specialist 40-Act service capabilities. The addition of the Atlantic business further builds on Apex’s growing presence in North America adding 75 people in Portland, Maine to Apex’s existing offices in Atlanta, Charlotte, Chicago, Costa Mesa, New York and San Francisco. The combined group now delivers a full suite of solutions to US managers and continues to win larger mandates in the region as it further expands its product portfolio and local expertise.

Atlantic’s clients will see immediate value from the transaction, gaining access to Apex’s global network of 40 offices in addition to its full range of service capabilities: from fund administration and middle office, to depositary, banking solutions and corporate services.

This transaction is the latest in a series of highly strategic acquisitions made by Apex over the past eighteen months solidifying its position as the fifth largest administrator in the world. Apex announced the acquisition of Deutsche Bank’s Alternative Fund Services business at the end of 2017, followed by the acquisitions of M.M.Warburg & CO’s Asset Servicing business, LRI Group, Ipes and Custom House in 2018. Combined, these acquisitions strengthen Apex’s suite of services across all asset classes on a local, regional, and global scale.

Terms of the agreement are not being disclosed.

Peter Hughes, Founder & Chief Executive Officer, Apex Group Ltd, said:

“The addition of the Atlantic team to the Apex Group is particularly valuable when it comes to our US capabilities and the ability to service 40-Act funds. We have a strong focus on building our presence in the Americas and Atlantic’s successful mutual fund service model adds further weight to our investment in the US. The award winning transfer agency solutions Atlantic brings will complement our European model and expand our US portfolio. Atlantic’s clients will benefit from immediate access to a global institutional business with a wide breadth of service capabilities and local expertise across all key fund jurisdictions.”

John Keffer, Chairman, Atlantic Fund Services, said:

“The decision to join Apex is an acknowledgement of our ongoing commitment to providing our clients with first rate products and services, and our people with lasting career opportunities. As we add our registered fund services to Apex’s expansive product line-up, the combined offering becomes compelling. I am very proud of what we have achieved over the past 30 years and believe this is the right decision for both the team and our clients and will deliver far greater potential for us all in the future. ”

Sadis & Goldberg provided legal counsel to Apex in the transaction.

About Apex

The Apex Group, established in Bermuda in 2003 is one of the world’s largest fund solutions providers with $610bn in AuA and over 40 offices worldwide. The Group has continually improved and evolved its product suite and offers a full service solution to its clients: from fund administration, middle office, custody and depositary to corporate services and fund platforms. Apex now administers the investments of some of the largest funds and institutional investors in the world. www.theapexgroup.com

Atlantic Fund Services

Atlantic Fund Services is an independent, third-party administrator providing comprehensive fund servicing solutions for mutual funds, series trusts, closed-end funds, private funds and bank funds. Atlantic provides fund launch management, legal and regulatory administration, fund accounting and tax recordkeeping, performance reporting, financial reporting, transfer agency, shareholder services, and compliance services. Headquartered in Portland, Maine, Atlantic’s experienced professionals have provided high quality, customized services for over 30 years.


Share on facebook
Share on twitter
Share on linkedin

Get in touch with our team

Submit your query

Cookie control
This website uses cookies so that we can make your experience better. If you wish to change your cookie settings please refer to our Privacy Policy. Otherwise we will assume you’re OK to continue. Privacy Policy