Global capital market company Apex has announced a planned acquisition of Maitland International plc, an international funding service provider.
The acquisition added $ 200 billion in assets under administration (AuA) and $ 17 billion under asset management (AuM) on the Apex platform, according to a statement released Wednesday.
Maitland’s 475 employees will join Apex, expanding the group’s markets to the United Kingdom, Guernsey, Luxembourg and South Africa.
The group said Maitland would complement its existing geographic reach, fundraising and management company services provided under its Fundrack and LRI brands.
According to Capital Markets Company, Maitland was founded in 1976 and provides a variety of funding services, including administration, transfer agency and management company services to 120 investment managers and 25 fund sponsor clients.
“This client base includes traditional, alternative and mutual funds across all fund types, strategies and investment styles,” the statement added.
Instead, Maitland clients will receive services provided by Apex, including Global Compliance Solutions, Environmental Social Governance Rating, Reporting and Advisory, and Digital Banking.
“We’ve been following the Maitland business’s long track record for some time and are excited about the opportunity to add more product depth and geographic reach to our business,” said Peter Hughes, Apex’s founder and CEO.
“By being part of the Apex Group, Maitland’s clients and staff will benefit from the group’s access to scalable single-source solutions bound by leading technology and the services we provide through global reach and connectivity.”
Other acquisitions
May 3 is the latest acquisition of fund services provider Apex, following New Zealand investment management services provider MMC Group and April 19 India-based boutique and specialized financial services provider Best Alternative Advisory Services.
Apex is expected to operate from more than 80 offices in 40 countries worldwide, providing an estimated $ 2.5 trillion in asset services under administration, depository, custody and management, with 9,000 employees, once the acquisition is complete.
Apex currently operates from 50 offices and has 5,000 employees.
Nandumiso Lehutso is a moneyweb intern.