Apex Fund Services Secures $30 Million Commitment from FTV Capital

First institutional financing to drive expansion through continued organic growth and acquisitions

Apex Fund Services (“Apex”), one of the world’s largest independent fund administration companies, today announced it had secured a $30 million commitment from FTV Capital for a minority interest in the Company. FTV Capital, the first institutional investor in Apex, is a growth equity investor with extensive experience and a global network in the financial services industry, and especially asset management.

Apex has 23 offices worldwide, including Singapore, Shanghai, Dubai and Switzerland, and delivers global fund administration solutions to investment managers investing in traditional and alternative assets. Apex offers clients a wide variety of specialized and integrated products supporting middle and back office fund administration, complex derivatives, risk reporting and corporate secretarial and fund formation administration, as well as specialist start up services to asset managers.

During 2010 Apex launched the world’s first real-time Middle Office (MOOR) service, giving investment managers immediate on the spot access to their portfolios. In addition, Apex offers a number of platforms giving clients a diverse range of fund launch options.

“Led by an exceptional management team, Apex has built one of the world’s fastest growing independent fund administration businesses through its innovative platform for emerging fund managers,” said Brad Bernstein, FTV Capital partner, head of the firm’s New York office, and new Apex board member. “Apex is unique in its ability to reach globally, service locally and provide cross-jurisdictional solutions and best practices; clients benefit significantly from the company’s deep expertise and a local presence that enables flexible, custom solutions.”

“This $30 million commitment will enable Apex to accelerate its model of delivering an increasing range of client service orientated products into the world’s major financial centres. Investment managers serviced by Apex have come to expect the highest level of client servicing available and this investment will help ensure these standards are maintained,” said Peter Hughes, Apex group managing director.

“We welcome the collaboration with FTV Capital, especially given FTV’s extensive Global Partner Network in the financial services industry. The Apex team has done a remarkable job building a highly successful business. In spite of challenging global economic conditions, assets under administration have doubled since 2008 and Apex is rapidly approaching the world’s top 25 fund administrators,” Hughes continued. “We remain committed to continuing the growth of the Company by entering attractive new markets and considering further strategic acquisitions. FTV’s capital, expertise, and network will help Apex with this strong growth trajectory as we open new offices in support of both the billion dollar fund market as well as emerging asset managers around the world who seek a proven fund administration partner.”

Apex service solutions are tailored to the investment managers' needs as well as the regulatory and investment environment within the main global financial centers. Apex administers both onshore and offshore investment funds such as mutual funds, UCITs, SICAVs, fund of funds, private equity, real estate, Shari'ah and partnerships from the firm’s global footprint of 23 offices around the world.

Apex Fund Services was advised by Frank Ennis of Katalyst Partners.

About Apex Fund Services

Apex Fund Services is one of the world’s largest independent fund administration companies. With nearly $20 billion of assets under administration and 200 employees in 23 offices across the globe, the Company’s growth is very much at the heart of Apex’s philosophy of providing personalized fund administration services by being based in the same location as its clients.

Apex provides the full suite of products and services, including fund set up, portfolio valuations, fund accounting, shareholder services, corporate secretarial administration, directorships and listing sponsorship. Apex offers a number of platforms including, Bermuda Emerging Manager platform (for small or start up funds), Luxembourg SIF platform, Luxembourg UCITS platform, Luxembourg Shari’ah platform (fully Shari’ah compliant) and the Malta PIF platform. For more information, please visit www.apexfundservices.com .

About FTV Capital

FTV Capital is a multi-stage growth equity firm that invests in high-growth companies offering a range of innovative solutions in business services, financial services, payments and transaction processing, and technology. FTV Capital provides entrepreneurs with unique access to its Global Partner Network, a group of the world’s foremost financial institutions that have invested in FTV Capital and its portfolio companies for more than a decade. Founded in 1998, FTV Capital has more than $1 billion across three funds, and has offices in San Francisco and New York. For more information, please visit www.ftvcapital.com .

Contact:

Apex Fund Services Limited
Peter Hughes, +44 7780 997609
Group Managing Director
peter@apex.bm
Mark Way, +44 7786 116991
Corporate Communication
mark@apexfunds.co.uk