Apex has announced its planned acquisition of the fund services and third-party ManCo business operations of Maitland International Holdings plc, a South Africa-based fund services provider. Founded in 1976, Maitland provides fund services including administration, transfer agency and ManCo services to 120 investment managers and 25 fund sponsor clients. This client base includes traditional, alternative and mutual funds across all fund types, strategies and investment styles.
Once completed, the acquisition would add USD200bn AuA and USD17bn of AuM to the Apex platform. Maitland’s 475 employees will join the group, expanding Apex’s existing presence in the UK, Guernsey, Luxembourg and South Africa. Terms of the deal have not been disclosed. In 2019 Maitland sold its private equity and hedge fund book of business to MUFG.
Following completion of announced acquisitions, Apex will operate from over 80 offices in 40 countries worldwide, with 9,000 employees servicing an expected USD2.5trn in assets across administration, depositary, custody and under management.