Log In

Reset Password

Apex Group acquires Tzur Management

First Prev 1 2 Next Last

Apex Group Ltd, the global financial services provider founded in Bermuda, has acquired Tzur Management, a fund administration services provider with offices in Tel Aviv and New York.

Terms of the deal were not disclosed.

Apex said the strategic deal further enhances its geographic reach and ability to deliver high quality services to clients globally, on a local basis.

It said the acquisition of Tzur will add 90 employees, assets under administration of $13 billion and a new jurisdiction to the group’s footprint, further solidifying its global position as one of the world’s largest financial service providers.

Peter Hughes, founder and chief executive officer of Apex Group, said: “This acquisition is further evidence of our commitment to building a unique business, with an unrivalled density of high quality, locally delivered services for our clients.

“The addition of the Tzur business enables us to expand into the Israel market and further strengthen our regional presence. As the alternative funds industry continues to attract capital, we will continuously evolve our offering to provide tailored advice and support to these investment strategies and structures.”

Yitz Raab, chief executive officer of Tzur, said: “We are delighted to become part of the Apex Group, a leading financial services provider that shares our commitment to providing clients with a consistent, high quality service offering.

“This transaction will benefit our clients who can now take advantage of the strength of the group’s global brand, cross-jurisdictional capabilities and wide range of additional services and innovative solutions.”

Apex said Tzur, founded in 2011, is a full-service, multidisciplinary fund services manager serving clients in the global alternative investment market.

Through its offices in Tel Aviv and New York, Tzur provides tailored operational infrastructure to funds offering a full suite of fund administration services including fund accounting, operations, and shareholder services to hedge funds, venture capital funds, funds of funds, private equity funds, family offices and other alternative investment vehicles.

Tzur has a strong track-record, recording double digit annual growth since 2016, Apex said.

The acquiring company said Tzur’s clients will now benefit from the group’s global, cross-jurisdictional reach and range of additional services including digital banking, global compliance solutions and ESG ratings and advisory; accessing new markets through its globally connected operating model across 46 offices, supported by over 4,200 employees.

Founded in Bermuda in 2003, Apex delivers a full suite of services to asset managers, capital markets, family offices and corporates.

Apex said it has continually improved and evolved its capabilities to offer a single-source solution through a broad range of solution including fund services, digital banking, depositary, custody, super ManCo services, compliance solutions, corporate services, business services including HR and payroll and a pioneering ESG ratings and advisory service for private companies.

Peter Hughes, founder and chief executive officer of Apex Group (Photograph supplied)

You must be Registered or to post comment or to vote.

Published May 18, 2021 at 12:29 pm (Updated May 18, 2021 at 12:29 pm)

Apex Group acquires Tzur Management

What you
Need to
1. For a smooth experience with our commenting system we recommend that you use Internet Explorer 10 or higher, Firefox or Chrome Browsers. Additionally please clear both your browser's cache and cookies - How do I clear my cache and cookies?
2. Please respect the use of this community forum and its users.
3. Any poster that insults, threatens or verbally abuses another member, uses defamatory language, or deliberately disrupts discussions will be banned.
4. Users who violate the Terms of Service or any commenting rules will be banned.
5. Please stay on topic. "Trolling" to incite emotional responses and disrupt conversations will be deleted.
6. To understand further what is and isn't allowed and the actions we may take, please read our Terms of Service
7. To report breaches of the Terms of Service use the flag icon