Apex to service BTC’s Argento oil and gas fund from Miami
Apex Group on Thursday said it has been appointed by BTC Investment Group to deliver fund services to its Argento Energy Fund LP, launched by the Mexican family office BTC in 2022, to manage investments in the US onshore oil and gas industry, with a target size of 100 million dollars. Apex will provide the services via its Miami office.
Décélération des FIAR : Prudence sur le Marché Alternatif
Moins de nouveaux fonds d’investissement alternatifs réservés sont enregistrés au Luxembourg cette année, les gestionnaires de fonds se montrant plus prudents et la collecte de fonds des capitaux-risqueurs ayant diminué. L’appétit des investisseurs semble réduit, mais n’a pas disparu. On dit que la « poudre sèche » reste disponible parmi les investisseurs institutionnels sur le marché alternatif.
Disparités de dénomination ETF : confusion dans les hubs européens
Dans les deux plus grands centres européens d’ETF, le Luxembourg et l’Irlande, différentes règles régissent la dénomination des Fonds Négociés en Bourse (ETF). Alors que les règles européennes pour la dénomination des ETF sont déterminées par l’autorité basée à Paris, l’ESMA, la mise en œuvre par les superviseurs nationaux, la CSSF au Luxembourg et la CBI en Irlande, diverge, présentant à la fois des opportunités et des risques pour les fournisseurs d’ETF.
FundRock to service Partners Capital’s flagship fund
FundRock Management Company, a unit of Apex Group, has been appointed by Partners Capital to provide ManCo services for their flagship fund. FundRock will provide ManCo services for Partners Capital’s flagship fund, following their support during the fund’s re-domiciliation to Luxembourg.
Broadridge’s Pandiri named Group President at Apex Group
Apex Group said it has appointed Samir Pandiri to the newly created role of Group President and Member of the Executive Committee, to support and drive the business’ sustained growth.
Michael Reinhard steps down as CEO at Universal Investment
Michael Reinhard has decided to step down as chief executive officer at Frankfurt-headquartered Universal Investment Group, a leading management company in Luxembourg. Until a successor is appointed he will be replaced by David Blumer, who joined UI as non-executive chair last year.
Luxembourg ManCos are redesigning operating models
Market consolidation, pressure on cost and the weight of regulation have reduced the total number of Management Companies in Luxembourg by four last year. The latest edition of PwC’s annual Manco Observatory nevertheless sees this industry as “very dynamic”, with 11 new Manco’s having been set up in the last year.
Raif registrations down 20% for year to date vs 2022
Fund management companies registered some 22 new reserved alternative investment funds (Raifs) in April 2023, according to publicly-released data updated on 15 May.
This development brings the total for this year so far to 128. Considering only the first four months of the year, the total number was down 20 per cent from last year during the same period.
Luxembourg now has some 2,288 registered Raifs. In 2022, The Luxembourg Business Registers recorded 482 new Raifs, at an average of over 40 new Raif registrations every month.
Apex closes acquisition of MJ Hudson’s data division
Financial services provider Apex Group on Tuesday said it has closed its acquisition of the data and analytics division of troubled London-based asset services provider MJ Hudson Plc. The deal includes part of MJ Hudson’s business in Luxembourg. The acquisition of the firm’s regulated business units remains remains to be closed as it is still subject to regulatory approval, Apex said.