Apex is to acquire Pacific Fund Systems (PFS), the Isle of Man-based fund administration software provider, from its co-founders and Pollen Street Capital. The acquisition follows Apex’s longstanding partnership with PFS through the use of PFS-PAXUS and will expand use of the technology platform to enhance the delivery of timely, accurate and independent portfolio accounting, fund and investor reporting. The expanded product offering will allow Apex to act as a single-source provider of services across the entire life cycle of client funds for both Apex and acquired PFS clients.
Founded in 1999, PFS supports the investment fund clients via its core PFS-PAXUS product, a specialist accounting and administration package that fully supports the administration of all types of open and closed ended traditional and alternative funds, including hedge funds and private equity investment vehicles. PFS-PAXUS is used by more than 4,000 individual users at over 100 clients managing >USD1trn.