Apex Group is set to snap up GFin Corporate Services, a Mauritius based and licensed management company that offers fund administration services to institutional clients.
Financial details of the deal were not disclosed.
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GFin also provides a range of services including company, trust and fund formation, corporate and trust administration, fund administration, corporate structuring, tax compliance, accounting and tax services, NAV calculation, directorship, company secretarial and share registry.
The purchase of GFin is said to complement Apex’s presence in Mauritius, offering a suite of locally delivered solutions covering fund administration as well as corporate solutions.
Established in 2006, Apex Mauritius provides fund services to over 200 clients.
Apex Group founder and CEO Peter Hughes said: “The acquisition of GFin further strengthens Apex’s presence in Mauritius, a growing regional hub for investors looking to access both Asian and African markets.
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By GlobalData“GFin has grown to become one of the leading administrators in Mauritius and will add depth to the services and products on offer to our clients.”
Meanwhile, the deal will provide GFin clients with access to new markets through Apex’s globally connected operating model across 45 offices, supported by 4,000 employees.
GFin Co-CEOs and Co-Founders Tej Gujadhur and Santosh Gujadhur said: “We are excited to become part of the Apex Group, one of the largest and fastest growing independent providers in the industry.
“Our clients will benefit from Apex’s model, which combines dedicated local expertise combined with fully integrated technology, resulting in a fast and efficient service in all areas of the global fund administration business and we will be able leverage our global reach across 21 jurisdictions.”
The latest deal follows Apex’s recent purchase of Luxembourg-based transfer agency IASL, Banco Modal’s Brazilian fund administration business FundRock and compliance and risk advisory consultancy, Praesidium.
In March this year, Apex Group rolled out a new digital bank and onboarding platform for asset management space through its subsidiary European Depositary Bank (EDB).
