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Apex Continues Acquisition Spree With Custom House Deal

Apex Group Ltd., one of the world's largest fund administrators, and mid-market PE shop Genstar Capital jointly announced today the acquisition of Custom House, adding a further $24 billion in assets under administration to the Group's portfolio. The addition of the Custom House business bolsters Apex's existing hedge fund service arm; Custom House provides fund administration services to over 200 alternative investment managers and 500 investment funds from offices in Beijing, Chicago, Dublin, Geneva, Hong Kong, Malta, Rotterdam, Shanghai, Shenzhen, Singapore, Sofia, and Sydney. As part of the transaction, Custom House CEO Mark Hedderman has decided to leave the firm to explore new opportunities. Peter Hughes, Founder & Chief Executive Officer, Apex Fund Services, said: "When I founded Apex in 2003 we were a specialist...