Apex Acquires Pinnacle Fund Administration

Mar 3 2015 | 5:46am ET

Apex Fund Services has acquired Pinnacle Fund Administration, making Apex one of the largest independent administrators globally.

According to the firm, 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,” said Bill Salus, global chief executive officer 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” said John Kelly, managing member of Pinnacle.
Macquarie Capital served as exclusive finance adviser and Marino Partners served as legal counsel to Apex Fund Services in this transaction.

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