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August 24, 2021updated 30 Aug 2021 8:36am

Apex Group concludes BRL Trust Investimentos acquisition

By Johney Amala

Apex Group has wrapped up its previously announced acquisition of Brazilian independent fund administrator BRL Trust Investimentos.

Financial terms of the deal were not divulged.

This acquisition bolsters Apex Group’s footprint in Latin America adding $44.4bn (BRL233bn) in assets under administration and $37.1bn (BRL195bn) in assets under custody to its books.

BRL Trust also brings 160 new employees to Apex and a new office in São Paulo.

Furthermore, the deal also enhances the group’s local market private equity expertise, while increasing liquid asset servicing capabilities for Brazil.

Apex further said that that deal would enable BRL Trust’s clients to access the group’s single-source solution, including a range of products and markets.

BRL Trust’s client base is said to comprise large international institutional investors, sovereign wealth funds, private equity firms, large conglomerates and financial institutions.

It also caters to major domestic investors including asset managers, single and multi-family offices, banks, insurance companies and other professional investors.

Apex Group CEO and founder Peter Hughes said: “With the acquisition of BRL, Apex now becomes the largest independent services provider in the Brazilian market.

“The close of this acquisition means we can now support our clients, whether they are looking to raise, operate and invest funds in, and between, Brazil and the international markets.”

BRL Trust Investimentos co-CEO Danilo Barbieri added: “As part of the Apex Group we can now offer our clients the broadest depth and range of services in the industry as we benefit from being part of an established, global financial services group, with over 50 offices worldwide.”

In February this year, Apex concluded the acquisition of FundRock Management Company and FundRock Partners– an independent UCITS Management Company and Alternative Investment Fund Manager.

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