Home   News   Features   Interviews   Magazine Archive   Industry Awards  
Subscribe
Securites Lending Times logo
Leading the Way

Global Asset Servicing News and Commentary
≔ Menu
Securites Lending Times logo
Leading the Way

Global Asset Servicing News and Commentary
News by section
Subscribe
⨂ Close
  1. Home
  2. Latest news
  3. Apex Group acquires Beacon Fund Services
Latest news
Apex Group acquires Beacon Fund Services
27 February 2019 London
Reporter: Jenna Lomax

Image: Shutterstock
Apex Group has acquired Beacon Fund Services (Bermuda), Beacon Corporate Services and Beacon Management to enhance its hedge fund administration, corporate services and transfer agency solutions.

According to Apex, Beacon clients will see immediate value from the transaction, gaining access to an additional 28 jurisdictions as well as custody and depositary solutions plus corporate services.

Headquartered in Bermuda, Beacon was established in 1995 and delivers service offerings to both offshore and domestic hedge funds and other international entities.

This acquisition is the latest in a series of transactions from Apex taking its assets under administration to $610 billion. Apex is a portfolio company of Genstar Capital.

Terms of the agreement are not being disclosed. The transaction is subject to customary closing conditions, including regulatory approval and is expected to be completed in Q2 2019.

Peter Hughes, founder and CEO of Apex Fund Services, said: "We have been focusing on expanding our capabilities into new markets over the past twelve months, evident through the like of the Link Asset Services and Warburg acquisitions, yet the addition of Beacon demonstrates our simultaneous dedication to continuing to improve and build-out the core service areas that Apex was founded on.”

He added: “As Apex itself was also established in Bermuda, this is a natural fit to expand our presence on the island and I am looking forward to welcoming the team to the Apex Group."

Nitin Aggarwal, CEO of Beacon Fund Services, said: "Becoming part of the Apex Group at this exciting time of groundbreaking expansion will bring great opportunities to both our clients and employees and is the next natural step in an ever-globalised asset management space.”

He added: “The range of products and services that will now become available to our clients, including cross-jurisdictional capabilities and expertise across multiple asset classes is extremely valuable.”

"We feel that we have found the right home with Apex due to its ongoing commitment to expanding its service portfolio while maintaining its agility and independence as a provider."
Next latest article →

Gemini joins BT Radianz cloud community
NO FEE, NO RISK
100% ON RETURNS If you invest in only one asset servicing news source this year, make sure it is your free subscription to Asset Servicing Times
Advertisement
Subscribe today