The transaction will establish Apex as the largest global independent administrator with over $300 billion in assets under administration.
On October 19, Willkie clients Apex Group Ltd. and Genstar Capital announced the acquisition of the Deutsche Bank (NYSE: DB) Alternative Fund Services business.
The transaction will add $170 billion in assets under administration, propelling Apex to become the eighth largest administrator in the world and the largest independent administrator. The transaction is expected to close in the second quarter of 2018.
San Francisco-based Genstar Capital manages funds with total capital commitments of approximately $9 billion and targets investments focused on targeted segments of the financial services, software, industrial technology, and healthcare industries. Willkie advised Genstar on the recapitalization of Apex and its acquisition of Equinoxe Alternative Investment Services.
The Willkie deal team was led by partners Jeffrey Poss and Manuel Miranda.