Apex Group Wins NewVest Mandate With Innovative Approach
Apex Group Ltd. (“Apex Group” or “The Group”), a global financial services provider, today announces its appointment by NewVest’s inaugural Private Equity 50 Index Fund (“PE 50”).
NewVest is an institutional tech-enabled platform of index funds designed to provide investors with diversified, passive exposure to private markets in the same manner that ETFs and Index Funds provide passive exposure to public markets. Their no management fee funds seek to generate returns that closely emulate the historically attractive pooled returns of an asset or sub-asset class with significantly lower risk than investing in individual private funds.
The PE 50 is designed to allow investors to “buy the market” in private equity in an efficient and scalable manner. The PE 50 is anchored by leading institutional investors including insurance, pension, bank, endowment, and family office capital, as well as founders and senior industry professionals of leading, global private markets sponsors.
Apex Group has been appointed to provide Fund Administration, Transfer Agency and Fund of Fund Middle Office Services. These global solutions are underpinned by ‘best in class’ technologies, through a combination of joint ventures with award winning technology providers, as well as market leading proprietary platforms.
Apex Group will deliver these solutions in conjunction with Inveniam.io’s patented blockchain technology and the Inveniam.io data operating system to manage and create higher functioning capital account data for NewVest’s portfolio fund commitments. Inveniam.io’s use of blockchain and click-through access to source documents enables a fully auditable data trail for permissioned users without the need for asset owners to relinquish control of their own data.
Inveniam.io credentials underlying document data and creates automated workflows to power risk, compliance, accounting and portfolio monitoring instruments with greater speed, reliability, and transparency throughout.
Belinda Marks, European Fund Sales at Apex Group comments: “The private markets are opening up to new pools of capital, with NewVest at the forefront of this trend, offering investors unparalleled access to these asset classes. With this democratization of private markets expected to continue, we are excited to be part of NewVest’s mission to transform private markets investing by improving access, efficiency and transparency for all investors. This appointment demonstrates that Apex Group’s single-source solution and collaborative technology partnerships offer the flexible support needed for the set-up and ongoing operations of innovative new investment models and structures.”
Edward Talmor-Gera, NewVest’s Founder and CEO further comments: “Apex Group and Inveniam share our commitment to bringing a new level of trusted information, price discovery and transparency to all investors in private markets. We will continue raising capital for the PE 50 and expect to launch additional products in 2023 – Apex Group offers the scalable solutions we need to implement our strategy and achieve our goals.”
Matt Appel, Managing Director, Fund Administration Services at Inveniam adds: “We are very excited to work with NewVest to deliver automated capture of capital activity notices and statements, financial reports, limited partnership agreements, side letters, and amendments. Inveniam.io will increase scalability, accuracy, auditability, and trust in all the data provided by general partners through which NewVest intends to invest.”
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