Apex Group has acquired Prometa Fund Support Services Inc (Prometa), a Canada-based provider of fund services to clients in Canada, the United States, and Bermuda, including hedge funds, LSVCCs and mortgage investment corporations.
Prometa administers over $28 billion in assets for approximately 50 fund companies representing more than 180 funds and approximately 225,000 individual investors.
The acquisition of Prometa will strengthen Apex Group’s presence in the Canada, adding 16 employees based in Winnipeg, supplementing the Group’s existing offices in Toronto, Ontario and increasing its overall Americas headcount to over 1,000 people. In addition to the acquisition of Prometa, Apex Group will continue to target organic growth in Canada, expecting to employ 200 people by the end of 2022.
Through this acquisition, Prometa’s clients will benefit from Apex Group’s global reach, access to a network of local experts and a wide range of services including Digital Banking and ESG Ratings & Advisory. Apex Group’s services are provided through a single relationship, offering efficient, scalable solutions and enabling clients to grow and expand into new jurisdictions.
