Willkie represented Genstar Capital and Apex Group in the transaction, which positions Apex as the fifth largest fund administrator in the world.
Willkie advised Genstar Capital and its portfolio company Apex Fund Services on the acquisition of Ipes, a private equity fund administrator with operations in Europe, from Silverfleet Capital. The transaction remains subject to regulatory clearances.
Willkie previously advised Genstar on the acquisition of Apex Fund Services and Equinoxe Alternative Investment Services and the subsequent bolt-ons of Deutsche Bank’s Alternative Services Business and MM Warburg, both of which remain subject to regulatory clearance. Willkie is also advising on the pending acquisition of LRI, a Luxembourg based asset manager.
With approximately $165 billion of assets under administration, Ipes has pioneered a specialist approach to fund administration within the European private equity market. Ipes maintains office locations in five jurisdictions and services clients in 27 countries. Apex is the world's largest independent fund solutions providers, offering a full service solution to its clients, from fund administration, middle office, custody and depositary to corporate services and fund platforms.
Based in San Francisco, Genstar Capital is a leading private equity firm managing funds with total capital commitments of approximately $9 billion. Genstar focuses on targeted segments of the financial services, software, industrial technology, and healthcare industries.
The Willkie deal team on the current transaction was led by partners Claire McDaid, Jeffrey Poss and Manuel Miranda, and included associates Philip Coletto and Sarah Wong.