Apex wins Pro-Invest Group mandate

Apex Fund Services has been appointed by Sydney-based private equity firm Pro-Invest Group as its fund administrator.

Apex will provide private equity real estate fund accounting, regulatory reporting and middle office support services to Pro-Invest Group, Apex said in a statement.

The private equity firm specializes in co-investments in the energy, healthcare, telecommunication and infrastructure sectors, alongside private equity real estate and real estate asset management. It has an additional office in Dubai.

Pro-Invest opened Australia’s first Holiday Inn Express in March this year with capital from its A$300 million ($217 million, €193 million) Australia Hospitality Opportunity fund. The fund, which closed in February, plans to develop a portfolio of up to 15 Holiday Inn Express hotels across Australia.

Pro-Invest Group is the latest client addition to Apex’s private equity arm. “Apex has experienced 35 percent growth in both private equity and real estate clients over the past year,” Srikumar TE, managing director at Apex said in the statement.

Apex Fund Services has over $45 billion assets under administration with more than 600 staff based in 33 offices across 26 jurisdictions globally. It provides fund administration, accounting and regulatory services to fund managers in the private equity and real estate sectors, amongst others.