Financial services group Apex is to acquire the fund services and third-party management company business operations of Maitland International Holdings.
Founded in 1976, Maitland has offices in the UK, Guernsey, South Africa and Luxembourg and provides fund services including administration, transfer agency and management company services to 120 investment managers and 25 fund sponsor clients.
The deal adds $200bn of assets under administration and $17bn of assets under management to the Apex platform. Maitland’s 475 staff will join the group.
Following completion of previously announced acquisitions, including New Zealand group MMC, Apex will operate from more than 80 offices in 40 countries.
The transaction is subject to regulatory approvals. Macquarie acted as financial adviser and Kirkland & Ellis as legal counsel to Apex Group. Nomura served as financial adviser and McDermott, Will & Emery as legal counsel to Maitland.