Apex Group wins NewVest mandate with innovative approach
Apex Group Ltd. (“Apex Group” or “The Group”), a global financial services provider, today announces its appointment by NewVest’s inaugural Private Equity 50 Index Fund (“PE 50”).
NewVest is an institutional tech-enabled platform of index funds designed to provide investors with diversified, passive exposure to private markets in the same manner that ETFs and Index Funds provide passive exposure to public markets. Their no management fee funds seek to generate returns that closely emulate the historically attractive pooled returns of an asset or sub-asset class with significantly lower risk than investing in individual private funds.
The PE 50 is designed to allow investors to “buy the market” in private equity in an efficient and scalable manner. The PE 50 is anchored by leading institutional investors including insurance, pension, bank, endowment, and family office capital, as well as founders and senior industry professionals of leading, global private markets sponsors.
Apex Group has been appointed to provide Fund Administration, Transfer Agency and Fund of Fund Middle Office Services. These global solutions are underpinned by ‘best in class’ technologies, through a combination of joint ventures with award winning technology providers, as well as market leading proprietary platforms.
Apex Group will deliver these solutions in conjunction with Inveniam.io’s patented blockchain technology and the Inveniam.io data operating system to manage and create higher functioning capital account data for NewVest’s portfolio fund commitments. Inveniam.io’s use of blockchain and click-through access to source documents enables a fully auditable data trail for permissioned users without the need for asset owners to relinquish control of their own data.
Inveniam.io credentials underlying document data and creates automated workflows to power risk, compliance, accounting and portfolio monitoring instruments with greater speed, reliability, and transparency throughout.
Belinda Marks, European Fund Sales at Apex Group comments: “The private markets are opening up to new pools of capital, with NewVest at the forefront of this trend, offering investors unparalleled access to these asset classes. With this democratization of private markets expected to continue, we are excited to be part of NewVest’s mission to transform private markets investing by improving access, efficiency and transparency for all investors. This appointment demonstrates that Apex Group’s single-source solution and collaborative technology partnerships offer the flexible support needed for the set-up and ongoing operations of innovative new investment models and structures.”
Edward Talmor-Gera, NewVest’s Founder and CEO further comments: “Apex Group and Inveniam share our commitment to bringing a new level of trusted information, price discovery and transparency to all investors in private markets. We will continue raising capital for the PE 50 and expect to launch additional products in 2023 – Apex Group offers the scalable solutions we need to implement our strategy and achieve our goals.”
Matt Appel, Managing Director, Fund Administration Services at Inveniam adds: “We are very excited to work with NewVest to deliver automated capture of capital activity notices and statements, financial reports, limited partnership agreements, side letters, and amendments. Inveniam.io will increase scalability, accuracy, auditability, and trust in all the data provided by general partners through which NewVest intends to invest.”
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.firstname.lastname@example.org
NewVest is an innovative, tech-enabled institutional platform of index funds designed to provide investors with diversified, passive exposure to individual private market asset classes. NewVest’s product suite allows investors to access private markets in an efficient and scalable manner and supports their ability to optimize portfolio construction. The firm is headquartered in New York, with team members also in London and Tel Aviv, and is an SEC Registered Investment Advisor. For more information, please visit www.newvest.com.
Inveniam is a fintech company, with offices in New York City and Detroit. Founded in 2017, Inveniam has built Inveniam.io, the data operating system for delivering access, transparency, and trust in the value and performance of private market assets and funds. Inveniam.io leverages big data, AI and blockchain technology to provide not only surety of data, but also high-functioning use of those data in a distributed data ecosystem. Through Inveniam’s data operating system, users can obtain real-time pricing of private infrequently traded assets, accelerate diligence, and identify buyers for those assets. Inveniam’s platform credentials data to commute trust throughout the global financial system. Inveniam holds many patents pertaining to the ingestion of data into smart contracts.
For more information, visit https://inveniam.io