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Apex to buy Deutsche Bank’s Alternative Fund Services business

BBR Staff Writer Published 23 October 2017

Apex Group, along with Genstar Capital, has agreed to acquire Deutsche Bank’s Alternative Fund Services (AFS) business for an undisclosed sum.

The deal will add $170bn assets under administration (AUA), allowing Apex to become the eighth largest administrator in the world.

Deutsche Bank’s AFS business offers administration services to hedge funds, private equity and real estate funds, depositary and fund of funds custody,

With around 300 employees, the company has nine locations in eight jurisdictions across the globe.

The combination of AFS and Apex will allow to offer range of products and services to the customers.

Apex’s local service delivery model in combination with AFS’ management, staff and platform enable to offer effective services to the customers.

The deal is expected to complete in the second quarter of 2018.

Apex founder and CEO Peter Hughes said: “This is another significant step in the evolution of the Apex Group. This transaction complements the existing Apex business and further strengthens our position as the leading independent provider of fund services globally.

“This acquisition is consistent with Apex’s ongoing commitment to continued strategic investments and to developing our product offering to become the most complete partner in the sector.”

Genstar Capital managing director Tony Salewski said: “AFS expands Apex’s sophisticated private equity and real estate servicing offering, and adds complementary banking products to Apex’s global client base.”

With offices in 35 locations across the globe, Apex Fund Services provides fund administration and middle office solutions for the customers.


Image: Deutsche Bank headquarters in Frankfurt. Photo: courtesy of Deutsche Bank AG.