Apex Group, a global financial services provider, has announced the successful close of the acquisition of the Business Outsourcing division of MJ Hudson following receipt of regulatory approvals.
MJ Hudson’s Business Outsourcing business includes Management Company (ManCo) businesses in Luxembourg and Ireland, Channel Islands Fiduciary and Fund Administration, and Investment Advisory.
MJ Hudson’s Irish ManCo business will continue to operate under the Bridge Fund Management brand, regulated by the Central Bank of Ireland to offer independent third-party management company and fund governance services to both Irish domiciled UCITS and AIFs. With established and experienced management team committed to the highest levels of compliance and with AuM of over €76bn, Bridge Fund Management is one of the largest ManCos in the Irish market.
Apex Group’s existing ManCo services, delivered under the FundRock brands, enable more than 1,200 funds with a total of €234 billion in assets under management in 12 countries, to streamline their operations in an efficient and cost-effective manner. MJ Hudson’s Luxembourg ManCo, regulated by the CSSF, will integrate under the FundRock brand, further consolidating FundRock’s position as the largest ManCo in the Luxembourg market.
Apex Group further expands its presence in the Channel Islands, with the addition of MJ Hudson’s Fiduciary and Fund Administration business, which services around 200 clients in Jersey and Guernsey, for clients including funds, corporates and family offices.
Apex Group previously announced the successful close of the acquisition of the unregulated Data & Analytics businesses of MJ Hudson, including ESG solutions, with the Quantitative Solutions business has rebranding as Clarus Risk, an Apex Group company.
Apex Group has also completed the acquisition of MJ Hudson’s non-regulated Investment Advisory business which adds to the Group’s service offering, enhancing the suite of advisory support for clients surrounding asset allocation, portfolio construction, manager selection, due diligence assistance and bespoke analytics.
Peter Hughes (pictured), Founder and CEO of Apex Group commented: “As part of Apex Group, MJ Hudson’s clients will benefit from the simplicity of a single relationship with a global service partner across the full value chain of their business. With significant substance and technology, we will continue to support our clients to achieve greater efficiency and to meet their resourcing requirements across all major European investment jurisdictions.
“We are excited by the opportunity we see in the Irish market to address growing demand from non-EU managers and the Boards of Irish self-managed funds, to partner with an established institutional third-party management company.”
Apex Group was advised by Rothschild & Co and Kirkland & Ellis International LLP. MJ Hudson was advised by Alvarez & Marsal and Walker Morris.