HAMILTON, Bermuda, September 12, 2018 – Apex Group Ltd. (“Apex”), one of the world’s largest fund administrators, reached a milestone this September celebrating 15 years in business.
Apex Group has grown in to one of the world’s top five largest fund administrators after fifteen years in business. The company’s CEO and founder, Peter Hughes, has led the company which now has offices in over 40 locations worldwide, to administering $560bn in assets in 2018.
Apex, founded in Bermuda in 2003, has become one of the fastest growing fund administrators in the world. In its first five years the company grew to $7.6bn in assets under administration (“AuA”), and added a further $37.4 billon through organic growth over the subsequent seven years bringing its total to $45bn. The recapitalization by US private equity firm, Genstar Capital, and the simultaneous acquisition of Equinoxe Alternative Investment Services in 2017, marked the start of the Group’s accelerated record setting growth. Apex’s AuA almost doubled to $80bn and the Group started to build out its reach and service capabilities through other acquisitions.
2018 has been the most transformational year for Apex to date, following the integration of Deutsche Bank Alternative Fund Services, and the successive acquisitions of M.M. Warburg & Co’s Luxembourg Services, Ipes, LRI Group, and Custom House, Apex has become the fifth largest fund administrator in the world. The Group now has a unique service offering for an independent provider with comprehensive middle office solutions, banking, custody and depositary services and corporate service solutions complementing its core private equity, hedge and UCITS fund administration business.
Peter Hughes, Founder and CEO, says:
“It gives me great pride to join Apex employees, clients and industry partners in celebrating the global Group’s 15th anniversary. We have developed into a unique independent provider with the kind of service capabilities traditionally only associated with the banks. Apex’s values remain deeply rooted in delivering local service with integrity, on a global scale and this remains a core part of our vision for the future. The Group continues to thrive not only by delivering excellent service, but also ensuring we provide a great work environment for our employees”.
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