Apex Group to acquire fund administrator Beacon
Apex Fund Services (Bermuda) ltd, known as Apex Group, is set to acquire Bermuda-based fund administrator Beacon Fund Services Ltd., Beacon Corporate Services Ltd. and Beacon Management Ltd., collectively known as Beacon.
Apex Group, a portfolio company of Genstar Capital LLC, said acquiring Beacon will boost its hedge fund administration and add an additional $10 billion in assets under administration to the group's portfolio.
Terms of the transaction were not disclosed. The transac...