Financial Services Provider Apex Group Acquires Pacific Fund Systems

Apex Group Ltd. (Apex), a global financial services provider, announced the acquisition of Pacific Fund Systems (PFS), a leading global fund administration software business, from co-founders and Pollen Street Capital.

This acquisition follows Apex Group's longstanding partnership with PFS through the use of PFS-PAXUS and will expand use of the technology platform to enhance the delivery of timely, accurate and independent portfolio accounting, fund and investor reporting.

The expanded product offering will allow Apex Group to act as a single-source provider of services across the entire life cycle of client funds for both existing and acquired PFS clients.

Peter Hughes, Founder and CEO of Apex Group commented: "Through a combination of partnerships with award winning technology providers, as well as our own market leading platforms, we deliver high quality solutions to asset managers globally. PFS-PAXUS is a proven global technology solution for the funds industry that enables our clients and third parties to automate all fund administration components on a single platform. Bringing PFS-PAXUS into the Group will help us to continue exceeding client expectations by delivering a single-source solution which improves administrative efficiencies, implements essential controls, and manages our clients' operational risk."

Paul Kneen, CEO of PFS further commented: "PFS is dedicated to providing a first-class global business solution to its clients and we are excited to be joining Apex Group which shares these core principles and objectives. My team and I are looking forward to deepening our relationship with Apex Group, an important existing client of PFS, and a supportive home as we continue to enhance and grow our market leading offering."