Guernsey: New Guernsey Office To Increase Apex’s Private Equity Services
Last Updated: 29 November 2012

Apex Fund Services, one of the world's largest independent fund administration companies, has announced the expansion of its private equity services following regulatory approval to open an office in Guernsey.

Apex's fund managers, particularly in the LATAM, Middle East and Asian emerging markets, continue to demonstrate their growing demand for private equity fund structures. With the company's commitment to providing the highest levels of fund servicing, Apex has begun providing its clients with the services they are calling for from Guernsey.

Peter Hughes, Group Managing Director of Apex Fund Services Ltd., said:"The Apex global reach, local presence strategy continues to attract fund managers from all over the world who are looking for specialist expertise and effective ways to launch or run their funds. The opening of Apex Guernsey marks a further commitment to deliver locally the most innovative and highest quality services possible to our clients - wherever they are located."

Over 40% of all Guernsey closed ended funds are private equity and as a consequence the jurisdiction has developed some of the most specialist industry expertise in the world. In addition, Apex has launched its open-ended Protected Cell Company (PCC) platform enabling fund managers located in established and emerging markets to launch new funds quickly and cost effectively. The PCC platform forms part of the Guernsey offices' capability to service private equity, property, alternative asset and structured fund vehicles to all of Apex's clients globally.

Apex Guernsey is located in St. Peter Port and will be managed by Stephen Cuddihee who has over 25 years experience in the finance sector in both Guernsey and London.

Stephen Cuddihee, Managing Director of Apex Fund Services (Guernsey) Ltd., said:"Apex's clients, via its Guernsey office, can now take advantage of the tax efficiencies the jurisdiction offers to funds and at the same time also benefit from the attractive regulatory framework for private equity funds.

"The continued increase in the value of the Guernsey fund market reflects the growing importance the jurisdiction has in the global finance industry. Via Apex, its clients can now fully access the specialist services in Guernsey."

Apex Guernsey will provide fund set up, portfolio valuations, fund accounting, shareholder services, corporate secretarial services, directorships and listing sponsorship. The value of funds under management and administration in Guernsey, at the end of June 2012 stood at £270.1bn of which £126bn was closed-ended funds which was dominated by private equity (41%) and property (18%) funds.

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