30.09.19, 2019 –Dublin/Jersey: Duet Group (“Duet”) today announces that it has selected global single-source financial solutions provider, Apex Group Ltd. (“Apex”), to deliver full depositary and fund administration services for their liquid Africa strategies.
Duet is a global investment holding company, founded in 2002, and a controlling shareholder of multiple asset managers, including Duet Private Equity, Emerging Markets Investment Management, Duet Alternative Investments, Merit Capital, and the Group’s centralised service company Hill Street Limited. Since its inception, the firm has developed an established portfolio of products with liquid funds including Frontier Markets Equity, Multi-Strategy and Global Event Driven. The mandate is for Apex to provide full depositary and administration solutions for five master funds and five feeder funds across three structures in multiple jurisdictions including Jersey, Ireland and Cayman. Apex’s appointment will enable Duet to drive cost efficiencies through an agile service model and in turn enhance operations to support investor returns.
Henry Gabay CEO, of Duet Group commented: “Apex demonstrated a clear understanding of our structure and requirements. Their full-service single source solution combining depositary, administration and corporate services, enables us to consolidate, drive significant efficiencies and be rid of the burden of multiple suppliers. For a large investment company like Duet, Apex’s continued focus on agility while finding its place among the largest service providers in the industry is something that stands out. The Group’s capabilities and expertise have been demonstrated by a quick and seamlessly integrated solution across multiple jurisdictions”.
David Rhydderch, Global Head of Financial Solutions, Apex Group Ltd. commented: “We are delighted to have been appointed by Duet Group and look forward to a long-term partnership. Duet Group has recognised the value of the disruptive capabilities Apex is able to provide as a complete independent fund solutions provider to include banking, administration and corporate service products; and with global reach. This is a significant endorsement of services which demonstrates the advantage of one source solutions.”
About Duet Group
Duet Group has offices in London and New York. The underlying companies operate globally with offices located in Antwerp, Bruges, New York, Delhi and Accra. The Group’s multiple asset managers specialise in managing and advising on investments for either institutional investors such as Pension Funds, Investment Banks, Insurance Companies and Sovereign Wealth Funds or for retail investors such as high net worth and ultra-high net worth individuals.
Duet Group’s asset managers are supported by Hill Street Limited. This fully dedicated service company provides a robust global infrastructure which has been developed to provide a scalable support system for all our investment teams. Prioritising the interests of the firm’s investors is central to Duet’s business philosophy; this can be demonstrated through the group’s range of products and their established track records.
About Apex Group
Apex Group Ltd., established in Bermuda in 2003, is a global financial services provider. With over 40 offices worldwide and 3,000 employees, Apex services over US$650bn in assets by delivering unique solutions that reach across the full service ecosystem. The Group has three core pillars of service: fund solutions, financial solutions and corporate solutions and a broad range of clients spanning asset management, allocators and financial institutions. www.apexfundservices.com
Press contacts: Global Head of Marketing and Communications | Rosie Guest: [email protected]
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