Apex Group Gets Preferred Equity Investment From The Carlyle Group
The Carlyle Group's Global Credit platform has led a preferred equity investment for Apex Group Ltd., a provider of fund administration and financial services to the asset management and corporate sectors. Apex will use the capital to support ongoing growth and acquisition activities, including Apex’s previously announced acquisitions of Luxembourg-based FundRock Management Company SA and Banco Modal’s Alternative Fund Administration business in Brazil.
Alex Popov, Carlyle’s Co-Head of Illiquid Credit Strategies and Head of Carlyle’s Credit Opportunities team, said, “Apex is an attractive platform that is strongly positioned to drive growth through targeted M&A, and by capitalizing on underlying organic growth momentum in the fund management industry. We are pleased to partner with the team, including building on an already strong relationship with Genstar, to provide the long-term capital Apex needs to accelerate its growth strategy.”
Peter Hughes, Founder and CEO of Apex Group Ltd., said, “We have continually enhanced our service offering to strengthen our leadership position as a single-source solution for our clients. We continue to see significant opportunity for growth, and this capital, combined with Carlyle’s sector expertise and partnership approach, will go a long way in helping us achieve our long-term growth strategy.”
Carlyle’s $53 billion Global Credit platform made the investment with capital primarily from its Credit Opportunities Fund, a $2.4 billion fund that closed last year. The Credit Opportunities Fund invests in privately negotiated capital solutions primarily for upper middle market borrowers, including both private equity sponsored and family or entrepreneur-owned companies.
Carlyle earlier this year made a similar investment in Genstar portfolio company Alera Group.
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