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Date: Tuesday, March 3, 2015
Author: Press Release

March 3, 2015: New York: Apex Fund Services is pleased to announce the acquisition of Pinnacle Fund Administration, affirming Apex’s market position as one of the largest independent administrators globally. Headquartered in Charlotte, North Carolina, Pinnacle operates additional offices in New York and Vancouver.

Fund managers in the U.S. and Canada are seeking to partner with stable providers that can provide a variety of services and outsourcing solutions. Pinnacle’s existing clients will benefit immediately from the acquisition by being able to access Apex’s full range of fund administration services, as well as expand their market reach available through the Apex Global Network of 34 offices worldwide.

Apex will rapidly introduce to the U.S. and Canadian fund services sectors, particularly to middle market managers, fund administration services including Apex’s Capital Introduction Services and Apex’s daily middle office support and outsourcing services.

“With the Pinnacle team firmly on board we will surely continue the global AuA growth we achieved over the past decade. We are highly impressed with Pinnacle’s commitment to its clients and believe they are the ideal partners to help build our North American operations,” commented Bill Salus, Global CEO of Apex Fund Services.

“During this period of industry consolidation, we analyzed all of the key drivers that have contributed to our success and concluded that it was in our clients’ best interests that we link up with an entity that enables us to broaden our service offerings without sacrificing quality” says John P. Kelly, Managing Member of Pinnacle.  “We then started the daunting task of identifying a partner that matched our business philosophy and ethics.  I am delighted to report that we have found an ideal partner in Apex.  We are excited about working with Apex management to grow and increase the visibility of the Apex brand worldwide, but particularly in the key market of North America.”

Macquarie Capital served as exclusive finance advisor and Marino Partners LLP served as legal counsel to Apex Fund Services in this transaction.

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 Bill Salus, Global Chief Executive Officer        +1 212 254 1917


 John Kelly, Managing Member                                    +1 704 927 5400


Mark Way, Corporate Communications                      +44 7786 116991


About Apex Fund Services

Apex Fund Services, established in 2003, is one of the world’s largest specialist fund administration and middle office solutions providers. The globally distributed service model, spanning 26 countries, has been developed to meet the changing demands of successful managers across all asset classes and has subsequently made Apex the beneficiary of investments by some of the largest funds and institutional investors in the world.

Apex Fund Services (US) Inc. was launched in 2008 and supports clients through specializing in delivering the following services:

  • Global fund accounting and administration and investor services, including daily reconcilement and information provided through a robust client and investor portal
  • Fund structuring and access global distribution platforms
  • Full complement of surround capabilities, including FATCA, FX services, corporate secretarial/directorships and tax services
  • Middle office outsourcing and support
  • Customizable and localized approach to servicing clients
  • Capital introduction services
  • Turn key off shore platforms for emerging managers

About Pinnacle Fund Administration LLC

Pinnacle is an independently owned, full service hedge fund administrator that offers a personal and individually tailored level of service to all of its clients without regard to size of assets under administration.  This personal level of service is achieved by insisting that all of the owners of the business are intimately involved with the day to day operation of the business, and by offering an attractive work environment that minimizes staff turnover.  By implementation of an institutional quality operating environment since inception, Pinnacle has minimized inefficiencies involved in the net asset valuation process, thus allowing the totally scalable delivery of accurate and timely net asset valuations.  Pinnacle is headquartered in Charlotte, North Carolina, with offices in Manhattan, New York and Vancouver, Canada.  For more information, visit www.pinnacleadmin.com.