Carlyle and Mubadala Investment Company have bought into Genstar Capital and TA Associates-backed financial services provider Apex Group following several years of stellar asset growth at the business.
Since Genstar agreed to back Apex in 2017 the company has grown its assets under administration, custody, depositary and under management to $1.5tn.
Apex provides services to asset managers, capital markets, private clients and family offices including fund services, digital onboarding and bank accounts, depositary, custody and super ManCo services, and business services including HR and payroll.
Carlyle and Mubadala have invested in the ordinary share capital alongside Founder and CEO Peter Hughes, majority investor Genstar and leading growth investor TA Associates, previously announced as taking a significant minority strategic investment in The Group.
Carlyle previously made a preferred equity investment in Apex in November 2020.
Alex Popov, Carlyle’s global head of illiquid credit, said, “We are thrilled to continue our support of Apex Group—a world-class financial services platform backed by an equally impressive management team and private equity investors Genstar and TA Associates, and sovereign investor Mubadala.
“The Apex team has a strong track record of delivering on its organic growth and acquisition strategy, and we look forward to continuing to support its strategic growth objectives.”
Copyright © 2021 AltAssets
- 2020
- 2021
- acquisition
- announced
- asset
- Assets
- Bank
- business
- buy
- capital
- Capital Markets
- Carlyle
- ceo
- clients
- company
- continue
- credit
- Custody
- delivering
- digital
- equity
- family
- financial
- financial services
- Forward
- founder
- Free
- fund
- Global
- Group
- Growth
- head
- hr
- HTTPS
- Including
- investment
- investor
- Investors
- leading
- Majority
- management
- Markets
- minority
- Onboarding
- P&E
- platform
- private
- Services
- Share
- Stellar
- Strategic
- Strategy
- support
- track
- years
