Apex Group Ltd. (Apex Group), a financial services provider, announced its appointment by Yarra Capital Management, to support the Yarra Private Capital Discovery Fund. Yarra Capital Management is one of Australia’s largest privately owned, fund managers, offering investors access to style-neutral equities, value equities, fixed income and multi-asset products.
What does Apex Group bring to the fund?
The Yarra Private Capital Discovery Fund provides investors with access to a diversified portfolio of holdings in high growth potential, unlisted firms that have an intention to go public or conduct a sales process within a three-year time horizon. The Fund benefits from the governance, research, investment and capital markets expertise of Yarra’s investment team and leverages the experience of its analysts, industry experts and board of advisors.
Apex Group will provide Fund Administration, Transfer Agency and Custody services, for the closed-ended vehicle. Fund administration is at the core of Apex’s single-source solution, delivering timely and accurate services, underpinned by market leading technology platforms.
Commenting on the partnership, David Acton, Portfolio Manager of the Yarra Private Capital Discovery Fund said: “With IPO markets effectively closed, and businesses staying private for longer, we are well positioned to invest in high-quality private businesses that require patient capital to help achieve their growth ambitions at a crucial stage in their development.”
“We are delighted to appoint Apex Group, whose single-source solution delivers significant cost and resource efficiency – allowing us to focus on researching, identifying and investing in this exciting, high growth segment of the market,” David Acton further commented.
What does the partnership mean for Apex Group?
According to a recent Total Economic Impact (TEI) report from Forrester Consulting, customers of Apex Group’s single-source solution achieve, on average, cost benefits of $5.39 million, with a net present value of $2.75 million over a three-year period.
This appointment follows Apex Group’s continued growth in ANZ, including the acquisitions of Mainstream Group and MMC, and new client wins including Capital Prudential, Foord Asset Management, Octopus Investments Australia, Perennial Partners and New Forests.
Tom O’Neill, Head of Client Relationship Management, Australia at Apex Group commented: “In Australia and globally, there has been a substantial increase in the number of fast growing, profitable unlisted companies raising late-stage equity prior to listing on public markets.”
“We are excited to partner with Yarra Capital who will benefit from our single-source solution encompassing fund administration, transfer agency and custody services for the newly launched Yarra Private Capital Discovery Fund,” Tom O’Neill further commented.