Apex Group plans to acquire MMC, a New Zealand-based provider of investment administration services. The transaction is subject to customary conditions, including regulatory approvals expected to be granted in early 2022. MMC has provided full outsourced investment administration services to the New Zealand investment management community since 2005. During this time, MMC has grown to administer funds of >NZD100bn AuA (USD68bn) across 900,000 active investor portfolios, with around 100 clients. The acquisition of the MMC business marks Apex Group’s entry into New Zealand through the addition of an office of 170 people, based in Auckland. In 2021 Apex acquired Australia-based Mainstream Group.
