Apex Group Ltd., the Bermuda-based financial services provider, has announced plans to acquire FundRock Management Company SA and FundRock Partners Ltd. Upon completion of the transaction, Apex would reach close to USD1trn in combined assets across administration, custody, depositary and management. FundRock is the largest third-party manager of UCITS funds in Luxembourg. Terms of the transaction are undisclosed. The deal is subject to customary closing conditions, including regulatory approval, and is expected to be completed in Q1 2021.
