This acquisition adds assets under administration (“AuA”) of US$30bn to the Apex Group, and an additional 35 employees based in Mumbai, India. BEST will now rebrand and operate under the Apex Group name, supporting managers across asset classes with a wide range of specialised services including risk management, investment operations, compliance, tax, client reporting and bespoke solutions tailored to each client.

This strategic acquisition reinforces the Group’s commitment to providing the broadest range of solutions in the industry, delivered locally. The addition of BEST will support current and future Apex clients looking for support in these specialised servicing areas from a highly tailored perspective.

BEST’s clients will now benefit from Apex’s global presence as well as access to the widest range of high-quality services in the industry, including digital banking and a pioneering ESG Ratings and Advisory offering, underpinned by best-in-class technology platforms.

This is the latest in a series of global acquisitions for Apex; following the recent acquisitions of Mainstream Group and MMC, Apex now operates from over 50 offices worldwide, with 9,000 employees. Following the upcoming close of previously announced acquisitions, Apex will provide services to assets of US$2.4 trillion.

Peter Hughes, Founder and CEO of Apex Group comments: “We are pleased to announce the close of this latest strategic acquisition. Our global office network, depth of product offering and single-source solution, will open new opportunities to BEST’s clients. BEST has demonstrated alignment with our commitment to building partnerships with clients to deliver a consistent and high-quality level of service, and we look forward to continuing this as BEST operates as part of Apex Group.”

Terms of the transaction are undisclosed. Khaitan and Co provided legal counsel to Apex Group. KNAV acted as financial advisor and AZB provided legal counsel to BEST.