Apex plans to acquire Efficient Group (Pty) Ltd. Based in South Africa, Efficient is the holding company of Boutique Collective Investments (RF) (Pty) Ltd and Boutique Investment Partners (Pty) Ltd. Founded in 2013, BCI provides a range of ManCo services with a core business focus on third-party branded portfolios. BIP is an independent investment management and consulting firm that specialises in the provision of multi-manager and consulting services to South African independent financial advisors, and their retail and institutional clients. This acquisition will add USD19bn AuA to the Apex platform. Forty-four Efficient employees will join Apex’s expanding African footprint following the recent acquisitions of Sanne and Maitland, reinforcing its commitment to the region and its intention to expand its local operations by c. 1,000 people this year.