Global financial services provider Apex Group is continuing its acquisitions spree, adding the operations and employees of South Africa’s largest fund administration business Maitland to its business. The terms of the all-cash deal are not being disclosed. The transaction will close once the necessary regulatory approvals have been granted.
By acquiring Maitland’s fund services and third-party management business in the UK, Guernsey, Luxembourg, and South Africa, Apex is adding $200 billion of assets under administration and $17 billion of Assets under Management to its platform. Maitland’s 475 employees are joining Apex, adding to the group’s existing headcount in each of the locations. Apex now operates from more than 80 offices worldwide, servicing an estimated $2.5 trillion in assets.
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