Fund administrator Apex Group has expanded its management company (ManCo) business in Ireland and Luxembourg through acquisition.
The firm has acquired the data and analytics division of MJ Hudson, an asset management consultant specialising in private markets and alternative investments.
Apex says the deal – the value was not disclosed – will add €80 billion of assets under management to its European ManCo service, which is delivered through the firm’s FundRock brand.
As well as ManCo services, the acquisition includes fund administration in the Channel Islands, along with ESG services and custodian bank benchmarking.
MJ Hudson’s “high growth” ESG advisory services and platforms will “supplement and scale Apex Group’s leading ESG ratings and advisory offering”, according to Apex.
Apex launched the ESG ratings business in 2019 and says over 400 general and limited partners use it. The acquisition will enable an expansion in reach and capabilities within the ESG software and advisory market.
Apex, which is run by CEO and founder Peter Hughes, has made a number of acquisitions in recent times, including fund administrators Sanne Group and Maitland.
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