Credit: mohamed_hassan from Pixabay.

Financial services firm APEX Group has strengthened its technology platform with the purchase of fund administration software firm Pacific Fund Systems (PFS).

APEX Group has bought the business from the company’s co-founders and Pollen Street Capital.

Go deeper with GlobalData

Data Insights

The gold standard of business intelligence.

Find out more

PFS, which was established in 1999, helps its investment fund clients with its core PFS-PAXUS offering.

PFS-PAXUS is a dedicated accounting and administration software that has been designed to help manage various open and closed ended traditional and alternative funds, such as hedge funds and private equity investment tools.

It is said to be used by over 4,000 individuals at more than 100 clients, with around $1 trillion in assets under management.

Prior to the latest acquisition, Apex Group has been working with PFS on the use of PFS-PAXUS.

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 allows Apex Group to extend its use of PFS-PAXUS to offer improved and independent portfolio accounting, fund and investor reporting services to its clients.

Financial and other details of the deal have not been disclosed.

Apex Group founder and CEO Peter Hughes said: “Through a combination of partnerships with award winning technology providers, as well as our own market leading platforms, we deliver high quality solutions to asset managers globally.

“PFS-PAXUS is a proven global technology solution for the funds industry that enables our clients and third parties to automate all fund administration components on a single platform.

“Bringing PFS-PAXUS into the Group will help us to continue exceeding client expectations by delivering a single-source solution which improves administrative efficiencies, implements essential controls, and manages our clients’ operational risk.” In September last year, APEX Group announced the acquisition of Canadian fund services provider Prometa Fund Support Services.