Apex Group Ltd., a global financial services provider, is to acquire the operating businesses of MJ Hudson Plc.
MJ Hudson is a provider of services to the asset management industry, specialising in private markets and alternative investments.
Apex Group intends to acquire MJ Hudson’s business divisions which offer a wide range of services including ESG solutions, Management Company (ManCo) services, Quantitative Solutions, Investment Advisory, Custodian Bank Benchmarking, Channel Islands Fiduciary and Fund Administration, as well as Investor Relations and Marketing Solutions.
MJ Hudson’s ManCo services in Ireland and Luxembourg will add approximately €80bn of assets under management (AuM) to Apex Group’s existing European ManCo offering, delivered via subsidiary brand FundRock, in Luxembourg, the UK and Guernsey. MJ Hudson’s experienced Irish ManCo team will join Apex Group in Dublin, supporting consistency of exceptional service levels for existing and future clients.
MJ Hudson’s Data & Analytics business – including ESG amongst other services – will complement Apex Group’s existing ESG Ratings & Advisory offering, which was launched in 2019 and is used by over 400 GPs & LPs and 2,000+ portfolio companies in more than 50 countries.
MJ Hudson’s Channel Islands Fiduciary and Fund Administration businesses, as well as its Investor Relations and Marketing Solutions business units will extend Apex Group’s global financial services offering. These businesses will further enhance Apex Group’s strategically important presence in the Channel Islands, where the Group currently employs over 550 local experts.
The clients of these divisions will now benefit from Apex Group’s single-source solution, including additional services such as digital banking, depositary and custody solutions, delivered across the full value chain of their business. As a global service partner, Apex Group offers solutions globally via 12,000 employees in 38 countries.
This is the latest in a series of strategic acquisitions for Apex Group, including successful integrations of Sanne Group and Maitland, which continue to expand the Group’s geographic footprint and deepen the service offering and technology platforms available to clients.
Peter Hughes, Founder and Chief Executive Officer of the Apex Group explained to Channel Eye: “We are pleased to announce the acquisition of these businesses which will deepen our footprint in Europe, particularly with regard to ManCo and Fund Administration solutions, and will add complementary advisory services, including in the fast-growing ESG space.
“With the addition of MJ Hudson’s ManCo business, we will consolidate our position as one of the largest super ManCo providers in both the Luxembourg and Irish markets, offering scalable, pan-European solutions to clients. We look forward to welcoming new clients and 250 colleagues to Apex Group which offers a secure and supportive home for their future growth and success.”
Geoff Miller, Chairman of MJ Hudson further added: ”With significant global reach and leading technology, Apex Group offers the right platform for our teams to continue supporting asset managers with the right resources, advice and technology to meet their evolving outsourced service requirements. We are excited by the opportunities this transaction offers for both MJ Hudson employees and our clients, and look forward to beginning a new chapter as part of Apex Group.”
Transaction close is subject to customary conditions, including shareholder and regulatory approvals.
Rothschild & Co acted as financial advisor to Apex Group, with Kirkland & Ellis International LLP providing legal counsel. MJ Hudson was advised by Alvarez & Marsal.
