Apex Group secures additional equity investment from Carlyle and Mubadala
Apex Group Ltd. (“The Group” or “Apex”), a global financial services provider backed by Genstar Capital (“Genstar”), today announced that global investment firm Carlyle and sovereign investor Mubadala Investment Company (“Mubadala”) have taken minority stakes in the business. The investment is further endorsement of Apex’s sustainable growth strategy, which will be delivered through continued organic growth and the successful integration of recent acquisitions.
Carlyle and Mubadala have invested in the ordinary share capital alongside Founder and CEO Peter Hughes, majority investor Genstar and leading growth investor TA Associates, previously announced as taking a significant minority strategic investment in The Group. This investment builds on Carlyle’s relationship with The Group following a preferred equity investment in November 2020, both of which were provided by Carlyle’s Global Credit platform.
Following an investment from private equity investor Genstar in 2017, The Group has grown both organically and via strategic acquisitions, increasing its assets under administration from $50bn, to $1.5 trillion in assets serviced across administration, custody, depositary and under management, delivered by nearly 5,000 employees across 50 offices worldwide (upon the close of recently announced acquisitions).
This follows the announcement earlier this week that The Group has secured corporate ratings from Moody’s Investors Service and S&P Global Ratings. This achievement reflects The Group’s established position in the global financial services market with a comprehensive product and single-source solution offering, along with its high level of operating profitability and strong free cash flow generation.
Peter Hughes, Founder and Chief Executive Officer at Apex Group comments: “We are extremely pleased to be expanding our relationship with Carlyle and to welcome Mubadala to our investor base. We are proud to now have the equity backing of three highly reputable institutions, including our majority owner Genstar, and now joined by Mubadala. These investments further strengthen our position in the market and signal our intent to continue expanding and evolving our business over the coming months and years.”
Alex Popov, Carlyle’s Global Head of Illiquid Credit, adds: “We are thrilled to continue our support of Apex Group—a world-class financial services platform backed by an equally impressive management team and private equity investors Genstar and TA Associates, and sovereign investor Mubadala. The Apex team has a strong track record of delivering on its organic growth and acquisition strategy, and we look forward to continuing to support its strategic growth objectives.”
Luca Molinari, Head of Financial Services at Mubadala said: “We are excited to partner with Peter and successful private equity investors like Genstar, TA Associates and Carlyle. Apex is one of the leaders in an attractive sector and we look forward to participating in the next phase of its growth. As a global investor, we invest in businesses that operate in large and growing markets, led by management teams with a proven record of value creation.”
Financial terms were not disclosed.
Apex Group Ltd., established in Bermuda in 2003, is a global financial services provider. With 50 offices worldwide and 5,000 employees upon the close of announced acquisitions, Apex delivers an extensive range of services to asset managers, capital markets, 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 and super ManCo services, business services including HR and Payroll and a pioneering ESG Ratings and Advisory service for private companies.
Carlyle (NASDAQ:CG) is a global investment firm with deep industry expertise that deploys private capital across three business segments: Global Private Equity, Global Credit and Investment Solutions. With $260 billion of assets under management as of March 31, 2021, Carlyle’s purpose is to invest wisely and create value on behalf of its investors, portfolio companies and the communities in which we live and invest. Carlyle employs more than 1,800 people in 29 offices across five continents. Further information is available at www.carlyle.com. Follow Carlyle on Twitter @OneCarlyle.
About Mubadala Investment Company
Mubadala Investment Company is a sovereign investor managing a global portfolio, aimed at generating sustainable financial returns for the Government of Abu Dhabi.
Mubadala’s $243.4 billion (AED 894 billion) portfolio spans six continents with interests in multiple sectors and asset classes. We leverage our deep sectoral expertise and long-standing partnerships to drive sustainable growth and profit, while supporting the continued diversification and global integration of the economy of the United Arab Emirates.
Headquartered in Abu Dhabi, Mubadala has offices in London, Rio de Janeiro, Moscow, New York, San Francisco and Beijing.
For more information about Mubadala Investment Company, please visit: www.mubadala.com
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