Global financial services provider Apex Group Ltd has closed on the acquisition of Implemented Investment Holdings Limited, the parent company of Implemented Investment Solutions and InvestNow.

Following Apex Group's entry into the New Zealand market with the recent addition of MMC, the acquisitions of IIS and InvestNow further expand Apex Group’s presence in New Zealand and Australia to more than 500 employees.

IIS provides investment services to large global fund managers, enabling them to establish and distribute New Zealand domiciled funds to their investors. IIS is the issuer and manager of 22 investment schemes with approximately NZ$5 billion of assets under management and will further extend the geographic reach of Apex Group’s existing third-party management company and distribution solutions currently delivered via FundRock and LRI subsidiaries.

The acquisition of InvestNow adds a leading digital retail investment platform enabling over 25,000 clients to invest approximately NZ$1.3 billion of assets, online in over 150 different managed funds from New Zealand and global fund managers.

Through these acquisitions, clients in the New Zealand investment industry will further benefit from access to Apex Group’s cross-jurisdictional single-source solution, including solutions such as ESG Rating, Reporting & Advisory and Digital Banking, offered via a network of over 80 offices globally and delivered locally by 10,000 professionals.

As part of Apex Group, IIS and InvestNow will continue to serve the New Zealand market, alongside the former MMC business. Anthony Edmonds, Founder and CEO of the IIS Group, and Gareth Fleming, CFO and Executive Director continue to hold senior management roles in the combined business, driving continued growth and providing continuity for clients.

Peter Hughes, Apex Group founder and CEO, said the addition strengthened the company’s position in New Zealand.

He added: “Our disciplined acquisition strategy is driven by a commitment to continuously enhance our client experience — by providing all the services they need, wherever they need them, under one single partnership.

“As we integrate recent acquisitions and mature operationally, we will continue to extend the depth and reach of our solutions, while ensuring their delivery is underpinned by the highest levels of client service.”

Anthony Edmonds, founder and CEO of IIS and InvestNow, said: “This next chapter creates new opportunities for both our employees and clients as part of an institutional scale, independent and agile global business such as Apex Group.

“As the New Zealand investment industry continues to thrive, Apex Group’s global reach and depth of product will enable us — and our clients — to continue to grow and capture the significant opportunity that exists, both domestically and globally.”