Apex to service Midtown Capital Partners
Bermuda-based global financial services provider Apex Group Ltd will be providing fund administration services to Midtown Capital Partners LLC.
Midtown is a real-estate investment and asset-management firm focused on acquiring properties in the office, retail, industrial and multifamily markets.
Based in Miami, Florida, with offices in Spain and Colombia, Midtown’s portfolio covers an expansive range of properties, including more than 500 rental residential units. The firm has executed more than $500 million in acquisitions in the past five years, and more than $200 million in acquisitions during the pandemic.
Apex’s fund-administration services are the foundation of its single-source solution and ensure the delivery of timely, accurate and independent portfolio accounting, fund, and investor reporting.
When supplemented with Apex’s financial solutions including depositary and distribution services, this provides a market-leading offering for closed-ended funds.
Through its partnership with Apex, Midtown will leverage Apex’s integrated approach to technology and analysis, enabling the streamlining of complex structures across all asset classes and regions.
Midtown will also access the Apex team’s expansive knowledge, flexibility and availability to synthesise changing variables in the market.
This latest appointment to deliver fund-administration services follows a period of record new business growth for Apex’s Americas region.
“We are excited to support Midtown as they continue to expand their acquisitions portfolio,” said Apex Group’s Jason Meklinsky, head of business development.
“Our single-source fund-administration services, reinforced by our experienced team, will provide Midtown with efficient processes that will ease operational pressures and allow them to continue to focus on maximising their results.”
Alejandro Velez, chief executive officer of Midtown Capital Partners, added that the firm looked forward to working with Apex as its fund administrator. He said that Midtown had been impressed by the reactiveness of the Apex team and the efficiency of the company’s single-source solution.
“At Midtown, we strive to reduce complexity for our clients, and it is clear to us that Apex’s approach, underpinned by best-in-class technology will do the same for our business,” he said.