Apex Group appointed by Yarra Capital Management for AUD$100m fund
Apex Group Ltd. (“Apex Group” or “The Group”), a global financial services provider, today announces its appointment by Yarra Capital Management, to support the Yarra Private Capital Discovery Fund (“The Fund”).
Yarra Capital Management is one of Australia’s largest independently owned, active fund managers, offering investors access to style-neutral equities, value equities, fixed income and multi-asset products.
The Yarra Private Capital Discovery Fund provides investors with access to a diversified portfolio of holdings in high growth potential, unlisted companies that have an intention to go public or conduct a sales process within a three-year time horizon. The Fund benefits from the governance, research, investment and capital markets expertise of Yarra’s Australian equities investment team and leverages the experience of its analysts, industry experts and board of advisors.
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 including Capital Prudential, Foord Asset Management, Octopus Investments Australia, Perennial Partners and New Forests.
Tom O’Neill, Head of Client Relationship Management, Australia at Apex Group comments: “In Australia and globally, there has been a substantial increase in the number of fast growing, profitable unlisted companies raising late-stage equity prior to listing on public markets. We are excited to partner with Yarra Capital who will benefit from our single-source solution encompassing fund administration, transfer agency and custody services for the newly launched Yarra Private Capital Discovery Fund.”
David Acton, Portfolio Manager of the Yarra Private Capital Discovery Fund further adds: “With IPO markets effectively closed, and businesses staying private for longer, we are well positioned to invest in high-quality private businesses that require patient capital to help achieve their growth ambitions at a crucial stage in their development. We are delighted to appoint Apex Group, whose single-source solution delivers significant cost and resource efficiency – allowing us to focus on researching, identifying and investing in this exciting, high growth segment of the market.”
About Apex Group
Apex Group Ltd., established in Bermuda in 2003, is a global financial services provider. With over 80 offices worldwide and 11,000 employees in 35 countries, 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.
Antonia Powell Antonia.email@example.com
About Yarra Capital Management
Yarra Capital Management is a leading independent, privately owned active Australian fund manager, with approximately $19bn of assets under management.
The Group offers its clients access to two leading businesses: Yarra, offering style-neutral Australian equities and fixed income capabilities including core fixed income, hybrids, credit, macro and RMBS, and Tyndall AM, a dedicated long-only manager specialising in Australian value equities. Through its partnership with the Nikko Asset Management Group, Yarra also provides access to a range of international equity products.
Yarra serves the Australian institutional and retail markets, and its Australian investment products are accessed from various international markets, including Japan and New Zealand.