Apex Group closes Pacific Fund Systems acquisition deal

Apex Group has acquired Pacific Fund Systems (PFS). PFS is a fund administration software company that was founded in 1999. The company’s acquisition will help Apex Group to improve efficiency while strengthening its ability to manage the operational risk of its clients.

Apex group acquires Pacific Fund Systems

The financials of this acquisition deal have not been disclosed. However, according to the founder and CEO of Apex Group, Peter Hughes, the deal will benefit the company as it will expand the solutions it can offer to its clients. The deal will also allow Apex Group to offer services to its target clients as a single-source solution.

Hughes further noted that the acquisition “improves administrative efficiencies, implements essential controls, and manages our clients’ operational risk.” Apex Group is one of the leading financial service providers with a vast global presence.

The company extends its services to asset managers, financial institutions, family offices, and private clients. Apex Group provides its clients with financial services, including payroll, fund, depositary, custody, bank accounts, and digital onboarding. These services revolve around streamlining the financial service industry and providing solutions to its clients under one roof.

Apex Group has significantly grown its global presence. The company currently operates in 40 countries and has 80 offices globally. It also has a large employee base of over 10,000. The solution offered by the acquisition of PFS could play a significant role in further growing the company’s global presence.

Tapping the PFS-PAXUS solution

One of the main benefits that Apex Group will get from this acquisition deal is that the company will get to access the PFS-PAXUS flagship solution that PFS offers. PFS is a fund administration software company whose flagship solution has become a game-changer in the financial industry.

The PFX-PAXUS allows investment fund clients to enjoy various services, including portfolio valuation, back-office fund accounting, fund pricing, and shareholder recordkeeping services. The flagship solution has attracted much interest because of its capability.

According to PFS, this solution has already been integrated by over 4000 individual users in its more than 100 clients. It noted that the clients that have integrated this solution into their offerings have over $1 trillion in assets under management. The numbers show that PFS-PAXUS has attracted interest from the large players in the sector.

It is not the first time that Apex Group is working with PFS. The two companies have previously partnered for the PFX-PAXUS offering. With this acquisition, Apex Group plans to expand the use of this platform. The company’s focus will be to “enhance the delivery of timely, accurate and independent portfolio accounting, fund and investor reporting.”