Apex acquires Israeli fund services group

Global fund administrator Apex Group has continued its global acquisition spree with the purchase of Tzur Management, a specialist fund administrator based in Israel.

The transaction will add 90 employees and US$13 billion in assets under administration to Apex’s bottom line.

It also expands Apex’s footprint in the Mena market. In September, Apex acquired UAE-based Praesidium Advisory while its subsidiary Throgmorton Compliance Solutions opened an office in the UAE.

“The addition of the Tzur business enables us to expand into the Israel market and further strengthen our regional presence,” said Peter Hughes, founder and chief executive at Apex.

Terms of the deal were not disclosed.

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