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Apex attracts fresh investment

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Bermudian-based Apex Group Ltd has secured additional equity investment from global investment firm Carlyle and sovereign investor Mubadala Investment Company.

The global financial services provider backed by Genstar Capital said Carlyle and Mubadala have taken minority stakes in the business.

It added that the investment is further endorsement of Apex’s sustainable growth strategy, which will be delivered through continued organic growth and the successful integration of recent acquisitions.

The company said Carlyle and Mubadala have invested in the ordinary share capital alongside founder and CEO Peter Hughes, majority investor Genstar and leading growth investor TA Associates, previously announced as taking a significant minority strategic investment in the Group.

Apex said this investment builds on Carlyle’s relationship with the Group following a preferred equity investment in November 2020, both of which were provided by Carlyle’s Global Credit platform.

Mr Hughes said: “We are extremely pleased to be expanding our relationship with Carlyle and to welcome Mubadala to our investor base.

“We are proud to now have the equity backing of three highly reputable institutions, including our majority owner Genstar, and now joined by Mubadala. These investments further strengthen our position in the market and signal our intent to continue expanding and evolving our business over the coming months and years.”

Alex Popov, Carlyle’s Global Head of Illiquid Credit, said: “We are thrilled to continue our support of Apex Group -- a world-class financial services platform backed by an equally impressive management team and private equity investors Genstar and TA Associates, and sovereign investor Mubadala.

“The Apex team has a strong track record of delivering on its organic growth and acquisition strategy, and we look forward to continuing to support its strategic growth objectives.”

Luca Molinari, Head of Financial Services at Mubadala, said: “We are excited to partner with Peter and successful private equity investors like Genstar, TA Associates and Carlyle.

“Apex is one of the leaders in an attractive sector and we look forward to participating in the next phase of its growth. As a global investor, we invest in businesses that operate in large and growing markets, led by management teams with a proven record of value creation.”

Financial terms were not disclosed.

Apex, established in Bermuda in 2003, has 50 offices worldwide and 5,000 employees upon the close of announced acquisitions.

Carlyle is a global investment firm that deploys private capital across three business segments: Global Private Equity, Global Credit and Investment Solutions. It has $260 billion of assets under management as of March 31.

Mubadala Investment Company is a sovereign investor managing a global portfolio, aimed at generating sustainable financial returns for the Government of Abu Dhabi.

The organisation’s $243.4 billion portfolio spans six continents with interests in multiple sectors and asset classes.

Headquartered in Abu Dhabi, Mubadala has offices in London, Rio de Janeiro, Moscow, New York, San Francisco and Beijing.

Peter Hughes, founder and CEO of Apex Group
Apex, established in Bermuda in 2003, has 50 offices worldwide and 5,000 employees

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Published July 19, 2021 at 7:58 am (Updated July 19, 2021 at 7:55 am)

Apex attracts fresh investment

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