Apex Group completes acquisition of BRL DTVM in Brazil

en

Apex Group Ltd. (“Apex Group” or “The Group”), a global financial services provider, announces the successful close of the acquisition of BRL Trust DTVM (“BRL DTVM”) following full regulatory approval.

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07/03/2023 |
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BRL DTVM is the sister company of BRL Trust Investimentos (“BRL Trust”), Brazil’s leading private equity fund (“FIP”) administrator and custodian which was acquired by Apex Group in 2021. BRL DTVM provides fund administration to real estate (“FII”), trade receivables (“FIDC”) and open-ended funds, as well as custody services and NAV calculation for all fund types.

This strategic acquisition further expands the Group’s presence in the Brazilian market, consolidating to become the largest custody and fund administration provider to the alternative fund segment, by assets[1].

BRL DTVM grows Apex Group’s footprint in Brazil to over 300 employees, enhancing open-ended fund servicing capabilities to the local market. Apex Group will continue to expand the solutions offered in the Brazil market, including Corporate Services.

BRL DTVM’s clients will now benefit from access to Apex Group’s single-source solution, including an extended range of products including Capital Raising and ESG Rating & Advisory, delivered by over 11,000 experts across 38 markets worldwide.

This transaction continues Apex Group’s growth momentum in Latin America, and follows the previous announcement of the acquisition of MAF, the fund administration business of the Brazil-based Banco Modal.

Peter Hughes, Founder and CEO of Apex Group comments: “We continue to see compelling opportunities for further consolidation and growth in the Latin American fund services market. We are proud to become the largest independent services provider to alternatives funds in the Brazilian market, supporting our clients with a comprehensive suite of solutions, serving their requirements throughout the lifecycle of their fund vehicles.”

Ricardo Lima Soares, Regional Managing Director, Latin America at Apex Group adds: “We are excited for the opportunities acquisition will provide to bring our single-source offering to our clients in the Brazilian market and support their continued growth and success. Building on the acquisitions of BRL DTVM, BRL Trust Investimentos and MAF, we are well positioned for further growth as one of the leading service providers in Brazil. As part of the Apex Group, BRL’s clients have access to the broadest range of services in the industry, delivered by an independent, truly global, financial services group.”

A&M acted as financial and tax advisor and Lefosse Advogados and Willkie Farr and Gallagher provided legal counsel to Apex Group. Vinci Partners and Mello Torres provided counsel to BRL Trust.

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