Apex Group Announces Planned Acquisition of FundRock

October 23, 2020

Willkie represented Genstar Capital and its portfolio company Apex Group in the transaction.

On October 15, Apex Group Ltd., a global financial services provider, announced the planned acquisition of FundRock Management Company SA and FundRock Partners Ltd. Upon completion of the transaction, Apex will reach close to $1 trillion in combined assets across administration, custody, depositary and under management. This latest deal serves to reinforce Apex’s services and complement its 2019 acquisition of Luxembourg-based LRI.

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, MM Warburg, LRI (a Luxembourg based asset manager), Ipes and the corporate and private clients business of Link Asset Services.

Apex Group Ltd., established in Bermuda in 2003, is a global financial services provider with 45 offices worldwide and 4,000 employees, delivering an extensive range of services to asset managers, capital markets and family offices. With approximately $19 billion of assets under management, Genstar Capital is a leading private equity firm which targets investments focused on segments of the financial services, healthcare, industrial, and software industries. Genstar’s current and former portfolio companies in the investment management sector include Apex Group, Artivest, AssetMark, Ascensus, Cetera Financial Group, ISS, Mercer Advisors, and Orion Advisor Solutions.

FundRock is a leading independent UCITS Management Company and Alternative Investment Fund Manager (AIFM), and the largest third-party manager of UCITS funds in Luxembourg. Offering management, risk and distribution solutions for French, Irish, Luxembourg, Swedish and UK based funds, FundRock overseas more than $100 billion of third-party assets for more than 90 established blue-chip companies and asset owners.

The Willkie deal team was led by partners Jeffrey Poss, Philip Coletto, Manuel Miranda and Jeffrey Goldfarb, and included associates Sabine Houben and Marta Ferrari.