Fund services provider Apex has agreed to buy M.M.Warburg & CO’s Luxembourg-based asset management and servicing business for an undisclosed sum.

Warburg Invest Luxembourg and M.M.Warburg & CO Luxembourg, which offer full depositary services and private equity depositary solutions, will become part of Apex as part of the deal.

Go deeper with GlobalData

Data Insights

The gold standard of business intelligence.

Find out more

The transaction will add $50bn in assets to the firm’s books, taking its total assets under administration to around $350bn.

Apex and parent firm M.M.Warburg & CO (AG & Co.) KGaA will also sign a strategic partnership for asset management services businesses in Luxembourg.

Apex founder and CEO Peter Hughes said: “The addition of the Warburg team and product suite further strengthens our capabilities in the highly regulated European market as we continue to develop the most complete service offering in the sector.

“There are benefits for both the transitioning Warburg clients and existing Apex clients in this combined offering and as we continue to grow we want to help them to grow with us.”

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

The deal is expected to be wrapped up in the second quarter of 2018, subject to regulatory nod.

M.M.Warburg & CO spokesman for the partners Joachim Olearius said: “Our continued commitment to working closely with Apex as a strategic partner aptly demonstrates our trust and confidence in this combination.”

This is Apex’s third acquisition in six months. In May 2017, the company agreed to acquire Equinoxe Alternative Investment Services. In October last year, Apex announced the acquisition of Deutsche Bank’s Alternative Fund Services business.