Apex Group snaps up Pacific Fund Systems
Bermuda-based financial services firm Apex Group has acquired Pacific Fund Systems (PFS) for an undisclosed sum.
Apex Group acquires Pacific Fund Systems (PFS)
Founded in 1999, PFS is a fund administration software company headquartered in the Isle of Man. Its flagship solution, PFS-PAXUS, provides investment fund clients with back-office fund accounting, portfolio valuation, fund pricing and shareholder recordkeeping services.
It says the solution is used “by more than 4,000 individual users at over 100 clients managing over $1 trillion of assets under management”.
Apex Group itself had previously partnered with PFS to utilise the PFS-PAXUS offering. Following its acquisition of the company, Apex Group says it plans to expand its use of the platform “to enhance the delivery of timely, accurate and independent portfolio accounting, fund and investor reporting”.
Peter Hughes, founder and CEO of Apex Group, adds the deal will enable the company to deliver a single-source solution “which improves administrative efficiencies, implements essential controls and manages our clients’ operational risk”.
Apex Group provides asset managers, financial institutions, private clients and family offices with financial services including digital onboarding and bank accounts, depositary, custody, payroll and fund services.
It currently runs 80 offices in 40 countries worldwide, with more than 10,000 employees.
