Fund administrator Apex Group has closed the acquisition of Deutsche Bank Alternative Fund Services (Deutsche Bank AFS) business.

The deal, whose financial terms were not disclosed, was first announced in October last year.

The acquisition adds $170bn in assets under administration (AUA) to Apex’s books.

Apex said that the deal will enhance its offerings, including the addition of depositary and custody services. On the other hand, the acquired entity’s clients will gain access to an additional 18 jurisdictions through the deal.

Apex Fund Services founder and CEO Peter Hughes said: “The close of this deal is an important milestone in Apex’s evolution. We are now in a truly unique position to add genuine value to our clients as an independent provider with robust banking capabilities and services.

“Moving 300 people and a sophisticated technology offering is one of the most complicated undertakings there is. To have achieved this in such a short time is testimony to the hard work and skills of the integration teams on both sides.”

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

Apex recently also announced the acquisitions of M.M.Warburg & CO’s Luxembourg-based asset management and servicing business, and Guernsey-based private equity fund administrator and depositary Ipes. Apex’s AUA is expected to reach $535bn following the completion of these deals.