Apex Group Ltd, the Bermudian-based global financial services provider, has closed the acquisition of Best Alternative Advisory Services, an Indian-based boutique and specialised financial services provider for global asset managers.

This acquisition adds assets under administration of $30 billion to the Apex Group and an additional 35 employees based in Mumbai.

The company said Best will now rebrand and operate under the Apex Group name, supporting managers across asset classes with a wide range of specialised services including risk management, investment operations, compliance, tax, client reporting and bespoke solutions tailored to each client.

Apex said this strategic acquisition reinforces the group’s commitment to providing the broadest range of solutions in the industry, delivered locally. The addition of Best will support current and future Apex clients looking for support in these specialised servicing areas from a highly tailored perspective.

It added that Best’s clients will now benefit from Apex’s global presence as well as access to the widest range of high-quality services in the industry, including digital banking and a pioneering ESG ratings and advisory offering, underpinned by best-in-class technology platforms.

Apex now operates from more than 50 offices worldwide, with 9,000 employees. After the upcoming close of previously announced acquisitions, Apex will provide services to assets of $2.4 trillion.

Peter Hughes, founder and CEO of Apex, said: “We are pleased to announce the close of this latest strategic acquisition. Our global office network, depth of product offering and single-source solution, will open new opportunities to Best’s clients.

“Best has demonstrated alignment with our commitment to building partnerships with clients to deliver a consistent and high-quality level of service, and we look forward to continuing this as Best operates as part of Apex Group.”