Willkie represented Genstar Capital and its portfolio company Apex Group in the transaction.
Apex Group, a global financial services provider that is majority-owned by Genstar Capital, entered into an agreement with respect to a significant minority investment by TA Associates, a global growth private equity firm. The investment reinforces Apex's strength as a leading financial services provider to investors, financial institutions and corporates.
Founded in Bermuda in 2003 by CEO Peter Hughes, Apex Group is a global financial services provider to asset managers, financial institutions, family offices and corporates. Apex has continually improved and evolved its capabilities to offer a single-source solution through a broad range of products including fund services, digital banking, depositary, custody, super ManCo services, compliance solutions, corporate services, and a pioneering ESG Ratings and Advisory service for private companies. Apex has 4,500 employees across 47 offices worldwide. Since Genstar’s investment in 2017, Apex has grown both organically and via strategic acquisition, increasing its assets under administration from $80 billion, to $1.1 trillion in assets serviced across administration, custody, depositary and under management.
Genstar Capital is a leading private equity firm that currently has approximately $33 billion of assets under management and targets investments focused on targeted segments of the financial services, healthcare, industrials, and software industries. TA is a leading global growth private equity firm focused on targeted sectors within five industries – technology, healthcare, financial services, consumer and business services –and has invested in more than 535 companies around the world.
Willkie previously advised Genstar on the acquisition of Apex Fund Services and Equinoxe Alternative Investment Services and the subsequent bolt-ons of BRL Trust Investimentos, Tzur Capital Management Ltd., the fund administration business of the Brazil-based Banco Modal, 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.
The Willkie deal team was led by partners Jeffrey Poss, Manuel Miranda, and included Phil Coletto and included associates Thomas Sharkey, Halie Klein and Gregory Segal.