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Apex Group Ltd. (“Apex Group” or the “Group”), a global financial services provider, announces today the close of the acquisition of Modal Group’s alternative fund administration business in Brazil (“MAF DTVM” or “MAF”), having received full regulatory authorization from the Brazilian Central Bank.
The MAF business adds approximately BRL80 billion (c.US$16 billion) in assets under administration and custody, across clients representing institutional funds (FIPs, FIDCs and FIIs) of both international and domestic asset managers and institutional international investors. MAF’s institutional clients in Brazil will now benefit from access to Apex Group’s single-source solution, including services such as Fund Distribution, Global Compliance Solutions and ESG Rating and...
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