Founded in 1976, Maitland provides an extensive range of fund services including administration, transfer agency and management company services to 120 investment managers and 25 fund sponsor clients. This client base includes traditional, alternative and mutual funds across all fund types, strategies and investment styles. 

This strategic acquisition adds $200bn of Assets under Administration (“AuA”) and $17bn of Assets under Management (“AuM”) to the Apex platform. Maitland’s 475 employees will join the Group, expanding Apex’s existing presence in the UK, Guernsey, Luxembourg and South Africa. 

The addition of Maitland will complement Apex’s existing geographic reach, fund administration offering and management company services, delivered under the FundRock and LRI brands. Maitland’s clients will now benefit from Apex’s single-source solution, including services such as Global Compliance Solutions, ESG Rating, Reporting & Advisory and Digital Banking.  

This is the latest in a series of successfully integrated global acquisitions for Apex including the recent addition of MMC Group, New Zealand’s leading provider of investment administration services. Following completion of announced acquisitions, Apex will operate from over 80 offices in 40 countries worldwide, with 9,000 employees servicing an expected $2.5 trillion in assets across administration, depositary, custody and under management. 

Peter Hughes, Founder and CEO of Apex Group comments: “We have followed the long track record of the Maitland business for some time and are excited by the opportunity to add greater product depth and geographic reach to our business. By becoming part of Apex Group, Maitland’s clients and employees will benefit from access to the Group’s scalable single-source solution underpinned by leading technologies, and services delivered through our global reach and connectivity.” 
 
Steven Georgala, CEO, Maitland further comments: “This transaction is testimony to the fact that the Maitland management team and employees have, over many years, with great dedication, and support from our loyal client base, built a world class service provider to the international investment fund community. On behalf of the board and our founding shareholders I wish to thank our staff and clients for their dedication and support, and I am confident that they will thrive and prosper within the Apex fold.” 

Transaction close is subject to customary conditions including regulatory approvals. 

Terms of the transaction are undisclosed. Macquarie acted as financial advisor and Kirkland & Ellis served as legal counsel to Apex Group. Nomura served as financial advisor and McDermott, Will & Emery acted as legal counsel to Maitland.