Apex Group Ltd, the Bermudian-based global financial services provider, has closed the previously announced acquisition of Darwin Depositary Services, a Netherlands-based provider of depositary services to alternative investment funds.

The close comes following the receipt of regulatory approvals.

Darwin services clients based in the Netherlands and outside the EU, including hedge funds, real estate, debt and private equity funds as well as funds investing in infrastructure and renewable energy.

The addition of the Darwin business adds €4.5 billion of assets under depositary to Apex Group.

Peter Hughes, founder and CEO of Apex Group, said: “The acquisition of Darwin brings an experienced local team and enables us to offer clients our single source solution in the Dutch market by adding depositary to our existing corporate services and fund administration services.

“This strategic addition is an important step in evolving and strengthening our depositary offering for small and mid-sized clients in the Netherlands, EU and beyond.”