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

Apex logo 150x150 (002)
23/01/2023

Apex Group to acquire Bank of America Irish depositary busin...

Apex Group Ltd. (“Apex” or “The Group”), a global financial services pro...

Apex
RobertSteele (002)
18/01/2023 Personnalités

EDB strengthens Executive Management Board with new appointm...

European Depositary Bank (“EDB”), the Luxembourg-based provider of banking, ...

Apex
Peter Hughes

Apex Group to acquire Luxembourg’s ALFI Partners

Apex Group Ltd. (“Apex Group” or the “Group”), a global financial servic...

Apex
Liam Jones David Carrick

Apex Group, Mosaic, Aon launch innovative fund-insurance pla...

Apex Group Ltd, a global financial services provider, today announces the launch...

Apex
Apex logo 150x150 (002)

Apex Group closes acquisition of the Maitland business

Apex Group Ltd. (“Apex” or “The Group”), a global financial services pro...

Apex
Jacob Fisher
15/12/2022

VI Asset Management appoints Apex Group for private credit f...

Apex Group Ltd. (“Apex Group” or “The Group”), a global financial servic...

Apex

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