Apex buys BEST

Apex Group has expanded its presence in India via the acquisition of India-based service provider, BEST Alternative Advisory Services.

BEST provides fund services for both closed and open-ended funds including private equity, fund of funds, hedge funds, managed accounts and mutual funds.

The acquisition will add $30bn of assets under administration to Apex, as well as an additional 35 employees based in Mumbai. 

“We are pleased to announce this strategic acquisition as we continue to expand our presence in India,” commented Peter Hughes, founder and CEO of Apex. “BEST has demonstrated alignment with our culture and way of doing business: to build partnerships with clients to deliver a consistent and high-quality level of service, by acting as a flexible extension of our clients’ own teams. BEST’s clients will now benefit from our full-service product offering via our single-source solution, delivered by our global network of offices.”

For the deal, Apex was advised by Khaitan and Co (legal counsel), while BEST was assisted by KNAV (financial advisor) and AZB (legal counsel).