Following the acquisition, the FundRock brand will be retained, and will operated as a subsidiary of its parent, Apex Group
Financial services provider Apex Group has closed of the acquisition of FundRock Management Company SA and FundRock Partners Ltd, following full regulatory approvals.
In an announcement made on Monday, Apex Group said that the FundRock brand will be retained, and will operated as a subsidiary of its parent, Apex Group.
The acquisition of FundRock, which has offices in Luxembourg, aims to strengthen Apex Group’s ManCo offering, while providing a broad range of industry solutions.
It comes after Apex Group acquired Luxembourg-based ManCo LRI.
Following completion of this acquisition, Apex now has $1trn in combined assets across administration, custody, depositary and under management, solidifying its global position as one of the world’s largest financial service providers.
“This strategic acquisition further strengthens our single-source model, grows our ManCo capabilities and expands our ability to support clients across all aspects of their business--no matter where they are in the world,” said Peter Hughes, Founder and CEO of Apex Group.
Macquarie Capital acted as financial advisor, while Kirkland & Ellis and Willkie Farr & Gallagher provided legal counsel to Apex and owners Genstar. Rothschild & Co acted as financial advisor and Arendt & Medernach SA provided legal counsel to FundRock.