Apex Group (Apex) has acquired BEST Alternative Advisory Services (BEST), an India-based, financial services provider.
BEST delivers fund services tailored to both open and closed-ended fund client profiles including private equity, fund of funds, mutual funds, managed accounts and hedge funds.
Apex’s addition of BEST will support current and future Apex clients looking to enter the Indian market, and for Indian domiciled funds to operate and invest internationally.
Apex’s single source solution will provide BEST’s clients with global access to digital banking as well as an environmental, social and corporate governance ratings and advisory offering.
The acquisition of BEST is part of a wider effort by Apex to continue its growth in India — adding assets under administration of US$30 billion to Apex, and an additional 35 employees to be based in Mumbai, India.
This is the latest in a series of global acquisitions for Apex, following the recent acquisitions of Mainstream Group and MMC.
Peter Hughes, founder and CEO of Apex, comments: “We are pleased to announce this strategic acquisition as we continue to expand our presence in India. BEST’s clients will now benefit from our full-service product offering via our single-source solution, delivered by our global network of offices.”
Tasneem Jeevanjee, founder of BEST, says: “We are extremely proud and excited to join forces with the global Apex Group, whose international footprint, diversity of product and innovative solutions along with its full-service offering will allow us to offer additional value to our clients.”
