Apex Group have acquired M.M.Warburg & Co’s asset management and servicing business in Luxembourg.
Apex and Genstar Capital have partnered with SALU Capital on the transaction.
Under the terms of the acquisition, Warburg Investment Luxembourg and M.M.Warburg & Co Luxembourg will become part of Apex.
Warburg’s clients will benefit from additional jurisdiction expertise and investment options.
The addition of Warburg will add further weight to Apex’s strength in delivering a compete service to European regulated funds.
Parent company M.M.Warburg & Co and Apex will form a strategic partnership from Luxembourg-based asset management service businesses, while Warburg Invest (Germany) will also continue to focus on its German asset management business.
Terms of the agreement are not being disclosed. The transaction is expected to be complete in Q2 2018.
Peter Hughes, founder and CEO at Apex, said: “The addition of the Warburg team and product suite further strengthens our capabilities in the highly regulated European market as we continue to develop the most complete service offering in the sector. There are benefits for both the transitioning Warburg clients and existing Apex clients in this combined offering and as we continue to grow we want to help them to grow with us.”
Joachim Olearius, spokesman for the partners of M.M.Warburg & Co, commented: “In Apex we have found a partner for this transaction that perfectly meets the requirements and expectations of our customers.”
Commenting on the acquisition, Markus Philipp Ehrhardt, managing partner of SALU Capital, added: “With our first deal, we are proud to be part of this significant transaction with strategic partners of the calibre of Apex and Genstar, and with a seller as reputable as M.M.Warburg & Co, proving our ability to originate and execute on complex investment opportunities.”
The transaction marks the third in the last six months for Apex, following the acquisition of both Equinoxe Alternative Investment Services and Deutsche Bank’s Alternative Fund Services business last year.
