With its latest acquisition, Apex Group now has over 80 offices in 40 countries in Europe, Asia, the Middle East and the Americas and employs 10,000 people. Photo: Shutterstock

With its latest acquisition, Apex Group now has over 80 offices in 40 countries in Europe, Asia, the Middle East and the Americas and employs 10,000 people. Photo: Shutterstock

Apex Group, one of the largest financial services providers in Luxembourg, continues to grow. On 8 September, it announced the acquisition of Prometa Fund Support Services, a Canadian-based fund services provider.

Growth in the Canadian asset management industry outpaced that of the US and global industry in 2021, with assets under management rising 14% during the year to US$3.6 trillion. It is an opportunity that Apex Group has not missed. By acquiring Prometa, Apex Group will strengthen its presence in North America, adding 16 employees based in Winnipeg, Canada, complementing the group’s existing offices in Toronto, and increasing its overall workforce for the Americas to more than 1,000 people.

Prometa provides fund services to clients in Canada, the US and Bermuda, including hedge funds and mortgage investment companies. The company administers over $28 billion in assets for approximately 50 fund companies, representing over 180 funds and approximately 225,000 individual investors.

In addition to the Prometa acquisition, Apex Group will continue to focus on organic growth in Canada, planning to employ 200 people by the end of 2022.

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This announcement follows the recent closing of the Apex Group’s acquisition of its former Sanne valve on 4 August. Maitland International Holding is also expected to join the group, with the acquisition to be completed later this year.

Peter Hughes, founder and CEO of the Apex Group, said: “The addition of Prometa to Apex Group further strengthens our service offering for clients in North America in the alternative asset management space. As Canada’s asset management industry continues to see impressive growth, this acquisition bolsters our ability to deliver our single-source solution locally and to be the best possible partner for our clients in this market.”

Bermuda-based Apex Group now provides services representing nearly $3 trillion in assets, has 10,000 employees, (including 1,250 in Luxembourg within Apex Fund Services), in 80 offices in more than 40 markets. In , , regional head of Apex Group in Luxembourg, said that the brand was now “among the top three service providers in Luxembourg when it comes to asset management and funds servicing”. In Luxembourg, Apex has around 130 open positions, with recruitment underway.

Originally published in French by and translated for Delano

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