Apex makes two acquisitions in New Zealand
Apex has acquired Implemented Investment Holdings Limited, the parent company of Implemented Investment Solutions (IIS) and InvestNow, both based in New Zealand.
IIS provides investment services to global fund managers, supporting them in establishing and distributing New Zealand domiciled funds to their investors. IIS manages 22 investment schemes with approximately NZ$5bn of assets under management.
InvestNow is a digital retail investment platform enabling 25,000 clients to invest online in 150 different managed funds from New Zealand and global fund managers, as well as a range of different banks’ term deposits. InvestNow’s clients manage approximately NZ$1.3bn of assets.
The acquisitions of IIS and InvestNow add 28 professionals to Apex, bringing its total number of employees in New Zealand to 200.
The deals follow Apex's recent entry into the market via the acquisition of MMC, which provides fund and wealth administration services to the New Zealand investment market.
Peter Hughes, founder and CEO of Apex commented: “New Zealand’s investment management community continues to grow, and with the addition of IIS and InvestNow, will enable us to further deliver our single-source solutions for investors participating in, and serving the local market through locally domiciled funds. We remain committed to increasing the depth of our services on a global scale, to enable our clients to reach their potential.”
Anthony Edmonds, founder and CEO of IIS and InvestNow added: “We are proud of the achievements and growth of the IIS and InvestNow businesses and are excited to be joining Apex Group to build on this success and offer a wider range of services to our clients. Both our clients and employees will benefit from leveraging Apex Group’s global fund hosting and management company capabilities, enabling investment managers to offer their investment solutions in the thriving New Zealand market. Apex Group’s global capability and experience enables us to continue to grow and capture the significant opportunity that exists within InvestNow, and I am extremely excited about what this means for our clients.”