Abu Dhabi-based frontier markets fund manager, Frontera Capital Group, has awarded an asset servicing mandate to Apex Group.
Apex will provide Frontera with fund management, administration, custody and corporate services for its Mena-based funds as well as its operations in the UK and US. Frontera is also in the process of launching a Luxembourg-domiciled fund which is expected to close in late 2021
“Having all our fund services needs met by one provider with all solutions available under one roof will allow us to focus on the job at hand: raising capital, structuring and deploying it in target frontier markets,” said Vicente Pons, Frontera Capital’s managing director and shareholder.
The deal is one of a number of Mena mandates won by Apex as its looks to expand its presence in the region.
The Bermuda-based asset servicing group also acquired UAE-based risk and compliance firm Praesidium in September before launching its Global Compliance Services business out of Abu Dhabi the following month.
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