Global, October 21, 2020 — Apex Group Ltd. (“Apex”), a global financial services provider, announces today that it has been appointed to provide fund administration to the USD 200 million “Financing Opportunities Fund” of SHUAA Capital psc (“SHUAA”), the leading asset management and investment banking platform in the UAE. The fund is targeting special situations in the GCC and has already attracted a total of USD 68 million in commitments from investors.
Apex’s experienced team will deliver a full suite of fund administration services to SHUAA including financial reporting, investor communication, capital transactions and accounting support. Fund administration is at the core of Apex’s offering, providing clients with timely, accurate and independent fund administration services underpinned by innovative technology and highly qualified personnel with deep local expertise.
Apex’s fully integrated global fund administration system and high-speed, real-time processing enables the delivery of accurate financial information, multi-currency transaction processing and flexible investor reporting.
This announcement marks the further expansion of Apex’s existing relationship with SHUAA who earlier this month, announced the launch of three Sharia-compliant funds in Abu Dhabi Global Market (ADGM) that already secured USD 75 million of commitments and also administered by Apex.
Glyn Gibbs, Regional Head of Business Development, MENA at Apex Group comments: “We are delighted to further expand and strengthen our relationship with SHUAA and to provide administration services to their new fund. SHUAA appointed Apex in recognition of our local expertise, and our flexible and bespoke approach to meet the specific requirements for this fund. Recent pioneering fund launches have positioned SHUAA at the forefront of the development of the Abu Dhabi Global Market and we look forward to providing innovative and scalable solutions to these funds.”
Natasha Hannoun, Head of Investment Solutions at SHUAA Capital, added: “We were impressed by Apex’s experience in the private credit markets and are pleased to appoint them to administer our latest fund. In the current climate of uncertainty and disruption in the global markets, Apex’s appointment helps to ensure that we provide our investors with efficient fund administration to complement the attractive investment proposition, and is testament to the outstanding levels of local expertise and service in evidence to date.”
Apex Group Ltd., established in Bermuda in 2003, is a global financial services provider. With 45 offices worldwide and 3,500 employees, 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 products in the industry; including fund services, digital onboarding and bank accounts, depositary, custody and super ManCo services, corporate services and capital markets services, business services including HR and Payroll and a pioneering ESG Ratings and Advisory service for private companies.
About SHUAA Capital
SHUAA Capital psc (DFM: SHUAA) is a leading asset management and investment banking platform, with USD 13 billion in assets under management and with offices throughout the Middle East and the United Kingdom. SHUAA Capital psc is recognized for its strong track record and pioneering approach to investing through a differentiated, innovative and global product offering focused on public and private markets, debt and real estate.
The asset management segment, one of the region’s largest, manages real estate funds and projects, investment portfolios and funds in the regional equities, fixed income and credit markets; it also provides investment solutions to clients, with a focus on alternative investment strategies. The investment banking segment, mandated to lead several sukuk issuances for a total of more than USD 500 million in the past 12 months, provides corporate finance advisory, transaction services, private placement, public offerings of equity and debt securities, and structured products, while also creating market liquidity on OTC fixed income products. The firm is regulated as a financial investment company by the Emirates Securities and Commodities Authority.
To learn more about SHUAA Capital, please visit: www.shuaa.com
Apex Group: Antonia Powell, Head of Media Relations
[email protected] | +44 77 8990 2279
SHUAA Capital psc: Hani El Abid, Head of Marketing and Communications
[email protected] | +971 2 610 8205
This press release is provided for informational purposes only and should not be considered as an offer, solicitation, or invitation for subscription in the Funds.
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