Apex Group Ltd, a Bermuda-based global financial services provider with a well-established record of acquiring companies, has announced its successful acquisition of Brazil’s BRL Trust DTVM after obtaining full regulatory approval, according to a Tuesday press release.
BRL Trust DTVM is the sister company of BRL Trust Investimentos Brazil’s leading private equity firm, administrator and custodian which Apex Group acquired in 2021.
The newly acquired firm offers fund administration to real estate, trade receivables and open-ended funds, as well as custody services and NAV calculation for all fund types.
Compelling opportunities
“We continue to see compelling opportunities for further consolidation and growth in the Latin American fund services market,” said Founder and CEO of Apex Group Peter Hughes.
“We are proud to become the largest independent services provider to alternatives funds in the Brazilian market, supporting our clients with a comprehensive suite of solutions, serving their requirements throughout the lifecycle of their fund vehicles,” he added.
The acquisition builds the Apex Group presence in Brazil, increasing its staff to over 300, enhancing open-ended fund servicing capabilities and allowing to become the largest custody and fund administration provider to the alternative fund segment by assets.
Single-source solution
BRL DTVM’s former clients will now be able to benefit from access to Apex’s single-source solution, delivered by 11,000 experts across 38 markets worldwide.
Apex is growing in Latin America, with this acquisition following the earlier announced acquisitions of MAF, Brazilian Banco Modal’s former fund administration business.
A&M acted as financial and tax advisor and Lefosse Advogados and Willkie Farr and Gallagher provided legal counsel to Apex Group.