Apex Group Ltd., a world monetary companies supplier, introduced the acquisition of Pacific Fund Methods (PFS), a world fund administration software program enterprise, from co-founders and Pollen Avenue Capital.
This acquisition “follows Apex Group’s longstanding partnership with PFS by means of using PFS-PAXUS and can increase use of the expertise platform to boost the supply of well timed, correct and unbiased portfolio accounting, fund and investor reporting.”
Based in 1999, PFS helps the funding fund purchasers “through its core PFS-PAXUS product. PFS-PAXUS is a specialist accounting and administration software program that absolutely helps the administration of all method of open and closed ended conventional and different funds, together with hedge funds and personal fairness funding autos.”
PFS-PAXUS is “utilized by greater than 4,000 particular person customers at over 100 purchasers managing over $1 trillion of belongings underneath administration.”
PFS-PAXUS integrates “all of the processes which are usually carried out on a number of programs, together with: securities portfolio, allocation system, common ledger, price calculation, share registry, investor communications and internet portal.”
Advantages of this method “embody elevated effectivity, lowered danger of error, quicker valuations, a simplified technical panorama and the flexibility to assist complicated funding buildings while considerably lowering IT prices.”
The expanded product providing will “enable Apex Group to behave as a single-source supplier of companies throughout the whole life cycle of consumer funds for each current and purchased PFS purchasers.”
Peter Hughes, Founder and CEO of Apex Group feedback:
“By a mixture of partnerships with award successful expertise suppliers, in addition to our personal market main platforms, we ship top quality options to asset managers globally. PFS-PAXUS is a confirmed world expertise answer for the funds business that permits our purchasers and third events to automate all fund administration elements on a single platform. Bringing PFS-PAXUS into the Group will assist us to proceed exceeding consumer expectations by delivering a single-source answer which improves administrative efficiencies, implements important controls, and manages our purchasers’ operational danger.”
Paul Kneen, CEO of PFS additional feedback:
“PFS is devoted to offering a first-class world enterprise answer to its purchasers and we’re excited to be becoming a member of Apex Group which shares these core rules and targets. My crew and I are trying ahead to deepening our relationship with Apex Group, an vital current consumer of PFS, and a supportive dwelling as we proceed to boost and develop our market main providing.”
James Scott, Associate at Pollen Avenue Capital, provides:
“Since investing within the enterprise simply over two years in the past, PFS has gone from energy to energy, recording sturdy natural development, recurring income and margins. This can be a nice consequence for PFS and the transaction represents the primary exit in our flagship Fund IV. Pollen Avenue is trying ahead to persevering with its assist of Paul and his wonderful administration crew in addition to working alongside Apex Group for the subsequent part of PFS’s development.”
Phrases of the transaction “are undisclosed.”
Deutsche Financial institution “suggested Apex Group on the acquisition,” and Arma Companions acted “as monetary advisor to PFS.”
Kirkland & Ellis Worldwide LLP acted “as authorized advisors” to Apex Group and Proskauer Rose LLP “acted as authorized adviser to PFS.”
