APEX EXPANDS U.S. AND CANADIAN PRESENCE WITH ACQUISITION OF PINNACLE FUND ADMINISTRATION |
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.
- Ends -
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:
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.
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