Apex Fund Services is pleased to announce the acquisition of Pinnacle Fund Administration, affirming Apex’s market position as one of the largest independent administrators globally. Headquartered in Charlotte, North Carolina, Pinnacle operates additional offices in New York and Vancouver.
Fund managers in the U.S. and Canada are seeking to partner with stable providers that can provide a variety of services and outsourcing solutions. 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,” commented Bill Salus, Global CEO 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” says John P. Kelly, Managing Member of Pinnacle. “We then started the daunting task of identifying a partner that matched our business philosophy and ethics. I am delighted to report that we have found an ideal partner in Apex. We are excited about working with Apex management to grow and increase the visibility of the Apex brand worldwide, but particularly in the key market of North America.”
Macquarie Capital served as exclusive finance advisor and Marino Partners LLP served as legal counsel to Apex Fund Services in this transaction.