Apex Group Ltd, the Bermudian-headquartered global financial services provider, has expanded its presence in the Latin American market with the acquisition of Finix Group, the Chilean-based financial services company.

Founded in 2012, Finix Group were pioneers in the fund administration market in Chile. In 2020, Finix Group merged with Compass Group fund administration business, consolidating its stature in the third-party asset-management industry.

The company provides services to multiple entities, supporting their local and global investment vehicles. Additionally, it handles about 300 funds with different back office services.

The addition of Finix Group adds around 100 employees and assets under administration of $10.5 billion to Apex Group.

Apex said this strategic move gave the company an opportunity to enter the Andean Latin American market with a leading partner.

The Bermudian-based company also has teams operating in Brazil and Uruguay.

Peter Hughes, founder and chief executive of Apex Group, said: “Having already firmly established roots in both the Brazilian and Uruguayan markets, I’m extremely pleased to now further grow our footprint within the Latin American market with this acquisition; and we welcome Finix Group.

“I look forward to embarking on this journey together and to delivering exceptional value to Finix Group’s clients across Latin America and beyond.”