August 5, 2019 – Luxembourg: Prologis (NYSE: PLD), the global leader in industrial real estate, announced that it has selected Apex Group Ltd. (“Apex”), to provide Full Depositary and Transfer Agency services to Prologis European Logistics Fund (PELF).
PELF is Europe’s largest open-ended logistics fund, with class-A assets located in high-consumption markets. Valued at €10.6bn, the portfolio consists of 10.5 million square meters across 12 countries. The fund was formed in August 2007 with the purpose of owning and operating core industrial distribution properties across Europe.
The fund, which is domiciled in Luxembourg, will be serviced by the Apex Group Subsidiary, European Depositary Bank (“EDB”). Apex was chosen as a provider due to the unique breadth and depth of its services, the quality of its team, and the group’s commitment to a responsive and client-centred approach. Apex’s large presence in Europe, and capabilities in Luxembourg (with over 600 employees based locally in the jurisdiction), teamed with its complete end-to-end service offering and powerful global infrastructure was a clear differentiator.
Gert-jan Meerkerk, head of Prologis Luxembourg commented: “Apex demonstrated a clear understanding of our fund structure and investing requirements, enabling them to tailor their solutions to uniquely support us. They brought a truly market-leading and pragmatic approach, which has been quickly and seamlessly integrated. This collaboration will enable PELF to further drive efficiencies.”
David Rhydderch, Global Head of Financial Solutions, Apex Group Ltd. commented: “We are delighted to have been appointed by Prologis and forge a long-term partnership. This is a significant endorsement of our depositary and transfer agency capabilities through EDB. The heart of the Apex Group is found in its personal relationships with clients, our ethos hinges on operating as an extension of our client’s own teams. Prologis recognized the value of this, alongside our robust banking, depositary and custody solutions.”
Prologis, Inc. is the global leader in logistics real estate with a focus on high-barrier, high-growth markets. As of June 30, 2019, the company owned or had investments in, on a wholly owned basis or through co-investment ventures, properties and development projects expected to total approximately 786 million square feet (73 million square meters) in 19 countries. Prologis leases modern distribution facilities to a diverse base of approximately 5,100 customers principally across two major categories: business-to-business and retail/online fulfilment.
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.theapexgroup.com
Press contacts: Global Head of Marketing and Communications | Rosie Guest: [email protected]
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