Apex Fund Services, an independent fund administrator, has acquired North Carolina-based Pinnacle Fund Administration to expand its market position in US and Canada.
The acquisition will benefit Pinnacle’s existing clients by providing access to Apex’s full range of fund administration services besides offering global market reach via the Apex Global Network.
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Apex will introduce its middle management and fund administration services including its Capital Introduction Services and daily middle office support and outsourcing services to the US and Canadian markets through Pinnacle’s New York and Vancouver offices.
The deal has been advised by finance advisor Macquarie Capital while Marino Partners has served as the legal counsel to Apex Fund Services.
Apex Fund Services global CEO Bill Salus said: "With the Pinnacle team firmly on board we will surely continue the global AuA growth we achieved over the past decade. We are highly impressed with Pinnacle’s commitment to its clients and believe they are the ideal partners to help build our North American operations."
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