Apex Group has agreed to acquire IP Fund Managers Guernsey, expanding its management company capabilities by adding another $200m in assets under administration.
It’s the latest in a series of recent acquisitions for the firm alongside MJ Hudson, Boutique Collective Investments and Maitland.
IPFMG has operated trust funds in Guernsey for over 15-years and has wide experience in multiple jurisdictions.
The acquisition of IPFMG is subject to regulatory approval and closing conditions, expected later in 2023. Financial terms of the transaction have not disclosed.
Apex’s existing investment management series are delivered under the FundRock brands with more than 1,200 funds totalling hundreds of billions of Euros across 12 countries.
Peter Hughes, Founder and CEO of Apex Group, said the deal would be beneficial for IP to continue comments: “Supporting clients by delivering resource and cost efficiencies and to meet their resourcing requirements in a complex regulatory environment.
“With the addition of the IPFMG ManCo business in Guernsey, we are proud to further consolidate our position as one of the largest super ManCo providers in Europe, offering scalable, cross-border solutions to clients.”
Brett Paton, Director of IP Fund Managers, added:“Our clients will be able to further streamline their operations in a cost-effective manner with third-party ManCo services complemented with fund distribution and administration, middle office, banking, depositary and custody services all available under one roof”.
Grant Thornton acted as financial advisor to Apex Group, with Walkers providing legal counsel.
Pictured (top): Peter Hughes.
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