Dallas expansion for Apex
Apex Group Ltd, the Bermudian-based global financial services provider, has acquired SandsPoint Capital Advisors, the US-headquartered professional services firm to the real estate market.
SandsPoint provides advisory and consultancy services to alternative asset managers, with specialism in the real estate market.
Outsourced services include fund accounting and administration, property accounting and administration, portfolio analysis, treasury services and expense processing, and are supplemented by consulting and strategy advisory across projects and business processes.
SandsPoint’s real estate clients will now benefit from Apex Group’s global, cross-jurisdictional reach and range of additional services including digital banking and ESG ratings and advisory.
Apex said that the addition of the SandsPoint business deepens the group’s existing real estate service offering in the US and will add assets under administration of more than $30 billion, serviced by 70 employees based in Dallas, Texas.
This further builds on Apex Group’s recent organic growth in the Texas market to become one of the largest independent fund services providers by headcount in the state, the company said.
The strategic acquisition serves to further strengthen Apex Group’s offering for clients in the North American market and enhances its ability to offer a comprehensive and high-quality service to all client segments delivered by more than 850 employees in the Americas.
It follows the recent close of the acquisition of Sanne, which positions Apex Group as a global, top-tier independent service provider to almost $3 trillion in assets across administration, depositary, custody and under management, through its globally connected operating model across more than 80 offices, supported by more than 10,000 employees.
This latest announcement builds on Apex Group’s organic growth momentum in the Americas, and follows the expansion on the West Coast with the acquisition of Greenough Consulting Group and of a majority stake in tax services provider FTS.
Peter Hughes, founder and CEO of Apex Group, said: “The acquisition of SandsPoint reinforces our commitment to further growth in the US market, which stands to benefit from continued consolidation of service providers.
“Kevin and the SandsPoint team share our emphasis on long-term client relationships and the importance of delivering a full-service range of solutions which meet the needs of real estate investors, now and as they grow.
“We look forward to welcoming SandsPoint to Apex Group as we seek to continually evolve our footprint and service offering.”
Kevin Naughton, founder and CEO of SandsPoint Capital Advisors, added: “SandsPoint strives to offer clients a single-provider solution that can address all the requirements of their back and middle office functions and have followed Apex Group’s growth to embody this approach on a global scale.
“As part of a global group, our real estate clients will now benefit from access to Apex Group’s complete range of services. We’re excited for the new opportunities this strategic acquisition will deliver for our valued and longstanding clients.”