Apex Fund Services, among the world’s largest independent global fund administration businesses, has opened an office in the Cayman Islands. Apex provides fund managers with access to key financial centres worldwide, and its full suite of administration services, including real-time middle office service and range of fund platforms.
The Cayman Islands Monetary Authority granted Apex a companies management licence entitling the fund administrator to offer independent directors, local directors, Apex directors, corporate secretarial services and registered office services.
The Cayman office was established by Alric Lindsay, a former investment funds attorney with Maples and Calder and Ogier. Mr. Lindsay will continue to act as an independent party, offering his expertise by assisting with the growth of the business. He has a close working relationship with Group Managing Director Peter Hughes and Apex employees Rayal Bodden, a director for over 12 years, and Shane Edwards, a former auditor and fund administrator with well-known Cayman firms.
“Apex continues to grow rapidly as we support an increasing number of investment managers located all over the world,” Mr. Hughes commented on the approval. “Apex already has over 220 funds registered in the Cayman Islands that it provides with administration services, making the opening of an office an obvious choice for the next step of our global growth strategy.”
Dax Basdeo, chief officer for the Ministry of Finance, congratulated Apex on the firm’s expansion into the Cayman Islands. “This is a testament that the global financial architecture is getting back on track, and that the Cayman Islands remains a top domicile of choice for hedge funds and company registrations,” he said.