The fund services provider has announced its acquisition of Axess Accounting Office. This acquisition comes as part of Apex Group’s ongoing efforts to broaden its service portfolio and strengthen its position in the Japanese financial services sector.

Upon completion of the acquisition, the team of 30 local tax experts from Axess will join Apex, led by country head, Mark Bennett.

Apex had entered the Japanese market in 2022 following the .

The strategic acquisition will allow Axess’ clients access to a broader range of services offered by Apex, the company stated on 24 July 2023. These include digital banking, depositary and custody services, fund raising services, and ESG ratings and advisory solutions.

Just prior to the Axess acquisition, the company had announced its planned , aimed at bolstering its capabilities in serving real estate clients.

Peter Hughes, founder and CEO of Apex Group, stated in a press release, “having worked closely with Axess to offer complementary local services to our Japanese clients, we are delighted to add to our existing presence in Japan. We see the continued growth of Japan’s real estate and private markets, and relatively low levels of outsourcing, as a compelling strategic growth opportunity for our business.”

Masanori Sakaguchi, president and CEO of Axess Accounting Office, added, “the acquisition of Axess by Apex Group will benefit our clients through the provision of new and global solutions to enable their continued success.”

The planned acquisition of Axess is subject to customary closing conditions, and financial terms of the transaction have not been disclosed.

Apex Group boasts a global workforce of over 12,000 employees, with more than 1,300 based in Luxembourg.