Apex Group expands North America presence with Prometa acquisition

en

Apex Group Ltd. (“Apex Group” or the “Group”), a global financial services provider, announces today the acquisition of Prometa Fund Support Services Inc. (“Prometa”), a Canada based provider of fund services

<< Back
08/09/2022 |
  • Apex logo 150x150 (002)

Prometa delivers fund services to clients in Canada, the United States, and Bermuda, including Hedge Funds, LSVCCs and Mortgage Investment Corporations. Prometa administers over $28 billion in assets for approximately 50 fund companies representing more than 180 funds and approximately 225,000 individual investors.  

Growth of Canada’s asset management industry outpaced both the U.S. and the global industry in 2021, with assets under management rising 14% during the year to US$3.6 trillion. The acquisition of Prometa will strengthen Apex Group’s presence in the geography, adding 16 employees based in Winnipeg, Canada supplementing the Group’s existing offices in Toronto, Ontario and increasing its overall Americas headcount to over 1,000 people. In addition to the acquisition of Prometa, Apex Group will continue to target organic growth in Canada, expecting to employ 200 people by the end of 2022. 

Through this acquisition, Prometa’s clients will benefit from Apex Group’s global reach, access to a network of local experts and a wide range of services including Digital Banking and ESG Ratings & Advisory. Apex Group’s services are provided through a single relationship, offering efficient, scalable solutions and enabling clients to grow and expand into new jurisdictions.  

This announcement follows the recent close of the acquisition of Sanne, with Apex Group now providing services to almost $3 trillion of assets, delivered via 10,000 employees from over 80 offices in more than 40 markets. 

Peter Hughes, Founder and CEO of Apex Group, comments: “The addition of Prometa to Apex Group further strengthens our service offering for clients in North America in the alternative asset management space. As Canada’s asset management industry continues to see impressive growth, this acquisition bolsters our ability to deliver our single-source solution locally and to be the best possible partner for our clients in this market.” 

George Asprey, President and CEO, and Mike Kalic, Vice President and COO of Prometa add: “We are confident that Apex Group provides the best possible home for Prometa and our clients, offering them unrivalled access to new services, geographies and opportunities. The Apex Group team share our commitment to delivering exceptional client experience with innovative services, underpinned by a flexible and scalable technology infrastructure. We look forward to the opportunities that Apex Group’s single-source solution, offered globally and delivered locally, will provide for our clients.” 

MNP Corporate Finance served as financial advisors to Prometa, with Fillmore Riley LLP providing legal advice. Stikeman Elliott LLP acted as legal advisors to Apex Group on the transaction.  
 

Back to top  | << Back

Communiqués liés

download
16/04/2024

Réseau ETRE est le nouveau lauréat du Degroof Petercam Fou...

Réseau ETRE remporte la sixième édition du Degroof Petercam Foundation Award....

Degroof Petercam
Job Shadow Day ALIPA
16/04/2024

Le Groupe ALIPA accueille une étudiante dans le cadre du Jo...

ALIPA Group, spécialiste du levage et de l’emballage industriel, a accueilli ...

ALIPA Group
Bryan Crawford - Quintet

Quintet lance le premier d’une série de nouveaux fonds e...

La banque privée européenne lance un fonds d’actions américaines sous gesti...

Quintet Private Bank
Left to right; Jin-yong Kim HyunYong Jung Jacques Flies Minwoo Kang (002)

Gcore opens the first H100-based data center in Korea - Part...

Gcore the global edge AI, cloud, network, and security solutions provider, will ...

GCore
Ayvens

ALD Automotive Luxembourg devient Ayvens

ALD Automotive / Leaseplan dévoile aujourd'hui Ayvens, sa nouvelle marque de mo...

ALD Automotive
ERG 8014
15/04/2024

Eurasian Resources Group to Donate 500 Million Tenge to Floo...

Eurasian Resources Group (ERG), a leading diversified natural resources group he...

Eurasian Resources Group

Il n'y a aucun résultat pour votre recherche

We use cookies to ensure the best experience on our website. By accepting you agree the use of cookies. OK Learn more