Apex Group completes acquisition of MJ Hudson
Apex Group successfully closes acquisition of MJ Hudson business units in Ireland, Luxembourg and Channel Islands.
Apex Group Ltd. (“Apex Group” or “the Group”), a global financial services provider, today announces the successful close of the acquisition of the Business Outsourcing division of MJ Hudson Plc (“MJ Hudson”) following receipt of regulatory approvals. MJ Hudson’s Business Outsourcing business includes Management Company (“ManCo”) businesses in Luxembourg and Ireland, Channel Islands Fiduciary and Fund Administration, and Investment Advisory.
MJ Hudson’s Irish ManCo business will continue to operate under the Bridge Fund Management brand, regulated by the Central Bank of Ireland to offer independent third-party management company and fund governance services to both Irish domiciled UCITS and AIFs. With established and experienced management team committed to the highest levels of compliance and with AuM of over €76bn, Bridge Fund Management is one of the largest ManCos in the Irish market.
Apex Group’s existing ManCo services, delivered under the FundRock brands, enable more than 1,200 funds with a total of €234 billion in assets under management in 12 countries, to streamline their operations in an efficient and cost-effective manner. MJ Hudson’s Luxembourg ManCo, regulated by the CSSF, will integrate under the FundRock brand, further consolidating FundRock’s position as the largest ManCo in the Luxembourg market.
Apex Group further expands its presence in the Channel Islands, with the addition of MJ Hudson’s Fiduciary and Fund Administration business, which services around 200 clients in Jersey and Guernsey, for clients including funds, corporates and family offices.
Apex Group previously announced the successful close of the acquisition of the unregulated Data & Analytics businesses of MJ Hudson, including ESG solutions, with the Quantitative Solutions business has rebranding as Clarus Risk, an Apex Group company.
Apex Group has also completed the acquisition of MJ Hudson’s non-regulated Investment Advisory business which adds to the Group’s service offering, enhancing the suite of advisory support for clients surrounding asset allocation, portfolio construction, manager selection, due diligence assistance and bespoke analytics.
Peter Hughes, Founder and Chief Executive Officer of the Apex Group comments: “As part of Apex Group, MJ Hudson’s clients will benefit from the simplicity of a single relationship with a global service partner across the full value chain of their business. With significant substance and technology, we will continue to support our clients to achieve greater efficiency and to meet their resourcing requirements across all major European investment jurisdictions. We are excited by the opportunity we see in the Irish market to address growing demand from non-EU managers and the Boards of Irish self-managed funds, to partner with an established institutional third-party management company.”
Apex Group was advised by Rothschild & Co and Kirkland & Ellis International LLP. MJ Hudson was advised by Alvarez & Marsal and Walker Morris.
Apex Group: firstname.lastname@example.org
About Apex Group
Apex Group Ltd., established in Bermuda in 2003, is a global financial services provider. With over 94 offices worldwide and 12,000+ employees in 38 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.
FundRock Management Company is a leading independent UCITS management company and AIFM investment fund manager headquartered in Luxembourg. It is a subsidiary of Apex Group. As of July 31, 2023, 600 employees of the companies under the FundRock brand* oversaw more than 1,200 funds with a total of €221 billion in assets under management in 14 countries. (* including FundRock, FundRock LIS and FundRock LRI).