Apex Group Ltd, the Bermudian-based global financial services provider, has closed the acquisition of the data and analytics division of MJ Hudson plc, a provider of services to the asset management industry specialising in private markets and alternative investments.

MJ Hudson’s data and analytics business includes ESG, custodian bank benchmarking and quantitative solutions as well as investor relations and marketing support, and will rebrand under the Apex Group banner.

Close of the acquisition of MJ Hudson’s regulated business units remains subject to regulatory approval. These businesses within the business outsourcing division include management company businesses in Luxembourg and Ireland, and Channel Islands fiduciary and fund administration.

Apex said these businesses will add a team of experienced professionals and approximately €80 billion of assets under management to Apex Group’s existing European manco offering, delivered via subsidiary brand FundRock.

Apex said its ownership will provide additional growth capital, resources and global reach, which will benefit existing MJ Hudson clients through an extended range of advisory services, technological capabilities and geographical footprint.

Peter Hughes, founder and chief executive of the Apex Group, said: “We are pleased to welcome the clients and employees of these business divisions of MJ Hudson, which will deepen our service offering and will add complementary solutions, including in the fast-growing ESG space.

“As we drive positive change in the industry, we will continue to evolve our pioneering ESG solutions to be the best possible partner for our clients; the addition of MJ Hudson’s ESG and sustainability business further reinforces our position as a leading service provider.”