Apex Group Ltd, the global financial services provider based in Bermuda, has announced the planned acquisition of various operating businesses of MJ Hudson plc, the provider of services to the asset management industry, specialising in private markets and alternative investments.

Apex intends to acquire MJ Hudson’s business divisions which offer a wide range of services including ESG solutions, management company services, quantitative solutions, investment advisory, custodian bank benchmarking, Channel Islands fiduciary and fund administration, as well as investor relations and marketing solutions.

MJ Hudson’s ManCo services in Ireland and Luxembourg will add approximately €80 billion of assets under management to Apex Group’s existing European ManCo offering, delivered via subsidiary brand FundRock, in Luxembourg, Britain and Guernsey. MJ Hudson’s experienced Irish ManCo team will join Apex Group in Dublin.

MJ Hudson’s data and analytics business — including ESG among other services — will complement Apex Group’s existing ESG ratings and advisory offering, which was launched in 2019 and is used by more than 400 GPs and LPs and 2,000-plus portfolio companies in more than 50 countries.

MJ Hudson’s Channel Islands fiduciary and fund administration businesses, as well as its investor relations and marketing solutions business units, will extend Apex Group’s global financial services offering.

These businesses will further enhance Apex Group’s strategically important presence in the Channel Islands, where it employs more than 550 local experts.

Peter Hughes, founder and chief executive of Apex Group, said: “We are pleased to announce the acquisition of these businesses, which will deepen our footprint in Europe, particularly with regard to ManCo and fund administration solutions, and will add complementary advisory services, including in the fast-growing ESG space.

“With the addition of MJ Hudson’s ManCo business, we will consolidate our position as one of the largest super ManCo providers in both the Luxembourg and Irish markets, offering scalable, pan-European solutions to clients. We look forward to welcoming new clients and 250 colleagues to Apex Group, which offers a secure and supportive home for their future growth and success.”

Transaction close is subject to customary conditions, including shareholder and regulatory approvals.