Willkie represented Genstar-backed Apex Group in the transaction.
On May 16, Willkie client Apex Group Ltd., a global financial services provider, announced its acquisition of leading fund services provider Tzur Capital Management. This strategic deal further enhances Apex’s geographic reach and ability to deliver high quality services to clients globally, on a local basis. The acquisition of Tzur will add 90 employees, assets under administration of $13 billion, and a new jurisdiction to the group’s footprint, further solidifying its global position as one of the world’s largest financial service providers.
Tzur Management is a full-service, multidisciplinary fund services manager serving a diverse range of clients in the global alternative investment market. With offices in Tel Aviv and New York, Tzur provides tailored operational infrastructure to funds offering a full suite of fund administration services including fund accounting, operations, and shareholder services to hedge funds, VC funds, funds of funds, private equity funds, family offices and other alternative investment vehicles. Tzur supports the full range of investment strategies that exist in the alternatives fund industry today – from long/short equity funds to quant to private equity and real estate.
Apex Group Ltd., established in Bermuda in 2003, is a global financial services provider with 46 offices worldwide and over 4,200 employees. Apex delivers a full suite of services to asset managers, capital markets, family offices and corporates. With approximately $33 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.
Willkie previously advised Genstar on the acquisition of Apex Fund Services and Equinoxe Alternative Investment Services and the subsequent bolt-ons of FundRock Management Company SA and FundRock Partners Ltd., 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 partner Philip Coletto and included partners Jeffrey Poss and Manuel Miranda and associate William Buchanan.