Apex Group (Apex) is to acquire ARM Swiss Representatives SA (ASR), an independent FINMA-regulated firm providing Swiss Representation and Distribution services to foreign fund managers.
This strategic acquisition strengthens the Group’s local presence in Switzerland, supplementing its existing capabilities to serve clients in the wider European market. It will further provide Apex clients with enhanced regulatory compliance and distribution services and assistance when accessing the Swiss market.
Founded in 2014, ASR provides compliance and regulatory services to over 630 funds and 350 fund managers internationally, seeking to market their funds in Switzerland in full compliance with local laws. In addition, ASR acts as the distributor in Switzerland for approximately 12 fund managers operating across a diverse range of investment strategies.
By joining the Apex Group, ASR’s client base will benefit from access to the Group’s single-source solution which includes locally delivered services across depositary, custody, digital banking, ManCo, fund administration, middle office, corporate services and an ESG Ratings and Advisory solution.
This deal further supports the Group’s expansion strategy for fund marketing and distribution services in Europe. It follows the recent launch of CSSF-regulated FundRock Distribution SA, to provide fund distribution solutions to non-EU asset managers, and the acquisition of Senasen Group, a digital marketing platform provider designed to connect LPs and GPs and support the capital raising process.
Peter Hughes, Founder and CEO of Apex Group, says: “We continue to innovate and evolve our product offering to meet the changing needs of our clients and support their growth. With a deep understanding of our clients’ investment strategies and portfolios, we are strategically placed to provide non-EU asset managers with the marketing and distribution support they require in Europe. The acquisition of ASR builds on our industry leading role as one of the first super ManCos to offer distribution services in Europe. We look forward to welcoming the team whose extensive knowledge of the Swiss market and regulatory landscape offers a highly attractive and complementary addition to our offering and further strengthens our compelling client proposition.”
Anne Empain, Co-Founder & CEO and Greg Taylor, Co-Founder & Head of Distribution at ASR, add: “We are delighted to be joining the global Apex Group, which will enable us to access a wider audience of foreign managers and promoters seeking to market their funds and financial services to Swiss investors. Apex has made notable strides in developing its distribution and capital introduction services for European investors, and we look forward to bringing these to Switzerland.”
Financial terms of the transaction were not disclosed. This transaction is subject to FINMA approval, expected in Q3 2021.
Lenz and Staehelin provided legal counsel to Apex Group. Geneva LBO Group SA served as M&A advisor and CMS von Erlach Partners SA advised ASR on the legal and regulatory aspects of the transaction.
