UK-based Apex Fund Services, a global fund administration business, has opened an office in the Cayman Islands.
The office has been established by Alric Lindsay, formerly an investment funds attorney with Maples and Calder and Ogier. Lindsay continues to act as an independent party, advising Apex on the growth of the business and working with Apex group managing director, Peter Hughes, and Apex employees Rayal Bodden and Shane Edwards.
Said Hughes, “Apex continues to grow rapidly as we support an increasing number of investment managers located all over the world. Apex already has over 220 funds registered in the Cayman Islands that it provides administration services making the opening an office an obvious choice for the next step of our global growth strategy.”
Apex has a staff of 190 and $16 billion in assets under administration. Its client base consists of hedge fund, long only and private equity managers, ranging in size from start-up operations to global businesses.
The company says the new office is part of its strategy of “giving fund managers access to all of the world's financial centers and providing the full suite of Apex’s fund administration services via its network of global offices.”
Apex is licensed to provide the following services in the Caymans: independent directors, local directors, Apex directors, corporate secretarial services and registered office services.