Apex to service Latin American asset manager
Apex Group Ltd, the Bermudian-based global financial services provider, has been appointed by Compass Group LLC, the independent Latin American asset manager specialised in managing assets for institutional investors, family offices and high-net-worth individuals.
Founded in New York in 1995, Compass Group has a team of more than 300 professionals in nine offices across Latin America managing, advising and providing distribution services to more than $41 billion in assets under management.
Apex said it was appointed in recognition of its ability to provide a full suite of services across fund administration, corporate services and depositary to Compass Group’s funds, augmented by additional tailored solutions that meet Compass Group’s requirements across varying fund structures and strategies.
Aman Bahel, managing director, Europe head, business development, Apex Group, said: “The private and public debt asset classes in emerging markets continue to mature and attract inflows from European institutional investors.
“We are delighted to be appointed by Compass Group to act as a single-source provider of tailored solutions which meet the specific needs of their varied fund structures and investment strategies.”
Gerard Benares, chief operating officer, Compass Group, added: “We appointed Apex due to their ability to deliver a wide range of services and underpinned by a robust and flexible technological infrastructure.
“We act as a bridge between Latin America and the deep pools of investor capital in Europe and the rest of the world, so it is critical for us to partner with a truly global institutional firm like Apex.
“We have been impressed by Apex’s international footprint and their ability to deliver solutions spanning the regulatory, operations, banking and technology needs of our funds.”
Launched in April, Compass’s Latin American Private Credit Opportunities is a closed-end fund that seeks to achieve attractive USD-denominated net returns, while generating consistent current income and prioritising capital preservation within a Latin American private credit portfolio, Apex said.
The company said it is supporting this strategy with a fully integrated loan and fund administration solution, in addition to corporate services, depositary and banking.
Compass’s open-ended Latin American High Yield Fund seeks to maximise total return by identifying Latin American corporate debt that is mispriced relative to underlying value.
In addition to the above-mentioned services, Apex said, the fund will benefit from Apex’s custody services, delivered via the group’s Luxembourg-based subsidiary, the European Depositary Bank.