Latin American asset manager Compass Group has signed an agreement with clearing and fund administration provider Apex Group to provide back-office services to two of its funds, the companies said.
Apex will provide a full range of fund administration, corporate and custodian services to strategies marketed to investors, including institutional clients, family offices and high net worth clients.
Specifically, Apex has been tasked with supporting Compass Group’s Latin American Private Credit Opportunities (LAPCO) closed-end fund launched in April and its Latin America High Yield open-ended fund by providing loan and fund administration services. as well as banking and custody assistance through its Luxembourg subsidiary, the European Depository Bank, according to the announcement.
âPrivate and public debt asset classes in emerging markets continue to mature and attract inflows of European and institutional investors,â said Aman Bahel, Managing Director, Head of Business Development Europe at Apex Group.
âWe are delighted to have been appointed by Compass Group to act as a single provider of tailor-made solutions that meet the specific needs of their various fund structures and investment strategies,â he continued.
Compass Group has more than $ 41 billion in assets under management and offices throughout the region in Chile, Argentina, Peru, Colombia, Mexico and Brazil.
âWe named Apex because of their ability to provide a wide range of services and based on a robust and flexible technology infrastructure,â said Gerard Benares, COO at Compass.
“We act as a bridge between Latin America and the vast pools of investor capital in Europe and the rest of the world, so it is essential for us to partner with a truly global institutional firm like Apex”, a- he added.
In recent years, Apex Group has sought to strengthen its activities in Latin America. In October 2020, it bought the alternative fund administration business of Brazilian Banco Modal to expand its product offering.
It provides a range of services to global asset managers, capital markets and family offices around the world, including fund services, digital integration and bank accounts, custody and custody services as well as ratings. ESG and consulting services for private companies.
The company has more than $ 1 billion in combined assets under administration, custody, custody and management, according to its website.