Global financial services provider, Apex Group, has successfully acquired Boutique Collective Investments (BCI) and Boutique Investment Partners (BIP) in South Africa. BCI operates as a collective investments scheme manager, focusing on third-party branded portfolios, while BIP offers independent investment management and consulting services to prominent South African independent financial advisors and their clients.
Key Points:
- Strategic Expansion in South Africa:
- Apex Group’s acquisition of BCI and BIP reflects its commitment to establishing strategic hubs in South Africa. This move aims to tap into the rich talent pools essential for supporting both local and global client bases.
- Enhancing Technology-Enabled Solutions:
- The addition of BCI and BIP to the Apex Group portfolio in South Africa will bolster the delivery of technology-enabled solutions to the asset management industry in the region. This integration will facilitate streamlined operations for over 1,200 funds, totaling €221 billion in assets under management across 14 countries.
- Augmented African Footprint:
- Following the acquisitions of Sanne Group and Maitland, the inclusion of BCI and BIP further strengthens Apex Group’s presence in Africa. This strategic move underlines the group’s commitment to the region and its intent to expand local operations.
- Added Assets under Management (AuA) and Workforce:
- The acquisition injects $19 billion of AuA into the Apex Group platform in South Africa. Additionally, approximately 50 new employees join the existing workforce of over 1,200, reinforcing the group’s foothold in the region.
- Comprehensive Service Offering:
- Clients of BCI and BIP will now have access to Apex Group’s comprehensive suite of services, covering the entire value chain of their business. This includes Digital Banking, Fund Raising, Distribution, Administration solutions, and innovative ESG Rating, Reporting, and Advisory services.
- Empowering Growth Opportunities:
- Apex Group South Africa recently sold a minority stake to a consortium of 100% Black-owned investors, demonstrating its dedication to unlocking growth prospects and establishing strategic teams in sub-Saharan Africa.
Conclusion: Apex Group’s strategic acquisition of BCI and BIP in South Africa signifies a significant step towards fortifying its presence in the region. By incorporating these entities into its portfolio, Apex Group is poised to offer enhanced technology-driven solutions to the asset management industry, further solidifying its position as a global financial services provider. This move exemplifies the group’s commitment to driving growth and fostering strategic partnerships in the African market.
