17 January, 2022

Apex Group acquires MMC

MMC Group Limited, New Zealand’s leading provider of investment administration services, today announces that the shareholders of MMC have entered into an agreement to sell the MMC Group to Apex Group Ltd (“Apex” or “The Group”). The transaction is subject to customary conditions (including regulatory approvals expected to be granted in early 2022).

Apex is a global financial services provider founded in Bermuda and employs approximately 5,000 professionals globally. It is the world’s largest independent fund administration and middle-office solutions provider with over US$1.5 trillion of assets under administration, custody, depository, and management. Through the acquisition of MMC, the New Zealand investment market will gain direct access to global expertise, innovation, and world-leading technology solutions.

MMC has been servicing the New Zealand investment management community since 2005. During this time, MMC has grown to administer funds over NZ$100 billion and over 900,000 active investor portfolios, with around 100 clients relying on MMC to manage their investment administration to set them free to accelerate their own success.

As part of Apex, MMC will continue to provide fund and wealth administration services to the New Zealand investment market. MMC’s clients will now benefit from the Group’s global, cross-jurisdictional reach and range of additional services including digital onboarding and banking, global compliance and middle-office solutions as well as a pioneering ESG Ratings and Advisory; and accessing new markets through its globally connected operating model.

This is the latest in a series of successfully integrated global acquisitions for Apex; following the recent close of acquisition of Australia-based Mainstream Group.

Peter Hughes, Founder and CEO of Apex Group says: “We are pleased to welcome MMC to the Apex Group, which will support MMC’s continued success and expansion. The New Zealand investment market is on a growth trajectory which we are excited to become part of. MMC shares our commitment to offering a broad range of high quality, locally delivered solutions to their clients, and this acquisition will provide them with access to the Group’s global single-source solution. We look forward to welcoming MMC to the Group, and the further growth of our business in New Zealand and Australia in 2022 and beyond.”

Vedran Babic, CEO of MMC comments: “We are excited to become part of the Apex Group and have been impressed by Peter Hughes and his team, as well as the successful journey that Apex has been on. Apex offers a strong cultural fit with MMC which will position us to continue to operate with a client focused mindset powered by innovation. This acquisition will further accelerate our clients’ success by leveraging Apex’s global best practice combined with MMC’s local knowledge. It will also enable faster access to technology innovation, scalability, additional services, international expertise and market connectivity which will deliver unique benefit to our clients as well as our people.”


About MMC
Behind the scenes powering their clients’ success is where MMC are at their happiest. Since 2005, MMC has provided outsourced investment administration services to the New Zealand investment sector. Auckland-based MMC administers combined funds of over $100 billion and 900,000 active investor portfolios on behalf of approximately 100 clients who range from investment managers to product providers and groups of investment professionals.

About Apex Group Ltd.
Apex Group Ltd., established in Bermuda in 2003, is a global financial services provider. With 50 offices worldwide and approximately 5,000 professionals globally, Apex delivers an extensive range of services to asset managers, capital markets, private clients and family offices. The Group has continually improved and evolved its capabilities to offer a single-source solution through establishing the broadest range of services in the industry; including fund services, digital onboarding and bank accounts, depositary, custody and super ManCo services, business services including HR and Payroll and a pioneering ESG Ratings and Advisory service for private companies.

Media contacts:
The Apex Group: Antonia Powell, Antonia.powell@apexfs.com +44 (0)77 8990 2279
MMC: Christina Bendall, cbendall@mmcnz.co.nz, +64 (0)21 997 611

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