Apex Group expands its New Zealand market, acquires IIS and InvestNow

Peter Hughes, Founder and Chief Executive Officer of Apex Group

Apex Group Ltd. (Apex Group), a global financial services provider, announces the close of the acquisition of Implemented Investment Holdings Limited, the parent company of Implemented Investment Solutions (IIS) and InvestNow. Following Apex Group’s entry into New Zealand with the recent addition of MMC, the acquisitions of IIS and InvestNow further expand Apex Group’s presence in New Zealand and Australia to over 500 employees.

What do the acquisitions bring to Apex Group’s portfolio?

IIS provides investment services to large global fund managers, enabling them to establish and distribute New Zealand domiciled funds to their investors. IIS is the issuer and manager of 22 investment schemes with approximately NZ$5 billion of assets under management and will further extend the geographic reach of Apex Group’s existing third-party management company and distribution solutions currently delivered via FundRock and LRI subsidiaries.

In addition, the acquisition of InvestNow adds a leading digital retail investment platform enabling over 25,000 customers to invest approximately NZ$1.3 billion of assets, online in over 150 different managed funds from the New Zealand market and global fund managers.

Through these acquisitions, customers in the New Zealand investment industry will further benefit from access to Apex Group’s cross-jurisdictional single-source solution, including solutions such as ESG Rating, Reporting & Advisory and Digital Banking, offered via a network of over 80 offices across the globe and delivered locally by 10,000 professionals.

As part of Apex Group, IIS and InvestNow will continue to serve the New Zealand market, alongside the former MMC business. Anthony Edmonds, Founder and CEO of the IIS Group, and Gareth Fleming, CFO and Executive Director continue to hold senior management roles in the combined business, driving continued growth and providing continuity for customers.

What do the acquisitions mean for Apex’s NZ reach?

Anthony Edmonds, Founder and CEO of IIS and InvestNow adds: “We would like to thank our colleagues whose hard work has driven the achievements of the IIS and InvestNow businesses to date. This next chapter creates new opportunities for employees and clients as part of an institutional scale, independent and agile global business such as Apex Group.”

“As the New Zealand investment industry continues to thrive, Apex Group’s global reach and depth of product will enable us – and our clients – to continue to grow and capture the significant opportunity that exists, both domestically and globally,” Edmonds further added.

Peter Hughes, Founder and CEO of Apex Group said: “We are pleased to welcome IIS and InvestNow to Apex Group as we continue to strengthen our presence in New Zealand.”

“Our strategy is driven by a commitment to enhance our client experience – by providing all the services they need, wherever they need them, under one partnership. As we integrate recent acquisitions and mature operationally, we will continue to extend the reach of our solutions, while ensuring their delivery is underpinned by the highest levels of client service.”

Clare Capital served as financial advisors to Implemented Investment Holdings Limited, with DLA Piper providing legal advice. Bell Gully provided legal advice to Apex Group.