Alternative Investment

Asset servicing fund services news

Apex Group (Apex) has acquired Canada-based Prometa Fund Support Services (Prometa), in an effort to expand its North American growth.

Prometa operates in Canada, the US, and Bermuda, providing fund services to hedge funds, labour-sponsored venture capital corporations, and mortgage investment corporations. The company administers more than US$28 billion in assets for approximately 50 fund companies.

As part of the mandate, Apex will gain Prometa’s Winnipeg office, increasing its Americas employee count to more than 1000. .

Peter Hughes, founder and CEO of Apex, says: “The addition of Prometa to Apex Group further strengthens our service offering for clients in North America in the alternative asset management space. As Canada’s asset management industry continues to see impressive growth, this acquisition bolsters our ability to deliver our single-source solution locally,”

George Asprey, president and CEO, and Mike Kalic, vice president and chief operating officer of Prometa, comment: “We are confident that Apex Group provides the best possible home for Prometa and our clients, offering them access to new services, geographies and opportunities. The Apex Group team share our commitment to delivering exceptional client experience with innovative services, underpinned by a flexible and scalable technology infrastructure.”

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