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Apex Group closes acquisition of the Maitland business

Staff writer
Jan. 10, 2023, 10:13 p.m.
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Word count: 410

Apex Group, a global financial services provider, has announced the completion of its acquisition of the fund services and third-party management company (Manco) business operations of Maitland International Holdings, an international fund services provider.

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Apex Group, a global financial services provider, has announced the completion of its acquisition of the fund services and third-party management company (Manco) business operations of Maitland International Holdings, an international fund services provider.

Peter Hughes, Founder and CEO of Apex Group, said: “The strategic addition of Maitland adds greater product depth and geographic reach to our fund administration and management company offering. We are excited to build multiple strategic hubs in South Africa to access the abundant pools of talent that we need to support both our South Africa and global client bases, enabling them to concentrate on their core focus of generating returns."

Maitland provides an extensive range of fund services including fund administration, transfer agency and management company services for 120 direct investment managers and 25 fund sponsors, totalling over $200bn in assets under administration and $17bn in assets under management.

Steven Georgala, CEO, Maitland, added: “We are pleased to announce the successful close of the sale of the fund services and Manco business operations to the global Apex Group, where our talented people and valued clients will continue to thrive and prosper. Following this transaction Maitland ceases to provide fund or ManCo services.”

This strategic acquisition adds $200bn of Assets under Administration (AuA) and $17bn of Assets under Management (AuM) to the Apex Group platform.

Maitland’s clients will now benefit from access to Apex Group’s single-source solution, including additional services such as Global Compliance Solutions, ESG Rating, Reporting & Advisory and Digital Banking.

Maitland’s 570 employees will join the Group, expanding Apex Group’s existing presence in the UK, Guernsey and Luxembourg and will grow its recently established footprint in South Africa.

“We look forward to welcoming our new colleagues who will deliver the Group’s agile single-source solution through our global reach, underpinned by a commitment to exceptional client service,” Hughes said.

Apex Group’s recent acquisition of Sanne Group added 500 employees in Cape Town, with the addition of Maitland doubling this headcount to approximately 1,000.

Apex Group also plans to hire over 500 new experts in Johannesburg over the next twelve months to deliver its single-source solution to a global client base of asset managers, capital markets, private clients and family offices.

In Johannesburg, Apex Group will be based at state of the art offices in the Sasol Place Building, which reflects the Group’s corporate purpose as a carbon neutral business and is rated a 5 Star Green Star Design V1 development by As Built.

 

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