Venture capital firm NewVest has appointed Apex Group to provide fund services for its inaugural Private Equity 50 Index Fund (PE 50).
The PE 50 fund is designed to allow investors to ‘buy the market’ in private equity.
As part of the mandate, Apex Group will provide PE 50 with fund administration, transfer agency and fund of fund middle-office services.
Apex Group will deliver these services in conjunction with Inveniam.io’s patented blockchain technology and the Inveniam.io data operating system to manage and create capital account data for NewVest’s portfolio fund commitments.
Inveniam.io’s use of blockchain and click-through access to source documents enables an auditable data trail for permissioned users.
NewVest is an institutional tech-enabled platform of index funds designed to provide investors with diversified, passive exposure to private markets.
NewVest’s PE 50 is anchored by institutional investors including insurance, pension, bank, endowment, and family office capital, as well as founders and senior industry professionals of global private markets sponsors.
Belinda Marks, senior vice president of European fund sales at Apex, comments: “With this democratisation of private markets expected to continue, we are excited to be part of NewVest’s mission to transform private markets investing by improving access, efficiency and transparency for all investors.
“This appointment demonstrates that Apex Group’s single-source solution and collaborative technology partnerships offer the flexible support needed for the set-up and ongoing operations of innovative new investment models and structures.”
Edward Talmor-Gera, founder and CEO of NewVest, says: “Apex Group and Inveniam share our commitment to bringing a new level of trusted information, price discovery and transparency to all investors in private markets.
We will continue raising capital for the PE 50 and expect to launch additional products in 2023 – Apex Group offers the scalable solutions we need to implement our strategy and achieve our goals.”
