Genstar-backed Apex completes purchase of Sanne

Carlyle and Mubadala are minority investors in Apex Group.

  • Sanne Group is a global provider of alternative asset and corporate services
  • Apex services nearly $3 trillion in assets across administration, depositary, custody and under management
  • The purchase adds adds six locations in Denmark, Japan, Serbia, South Africa, Spain and Sweden

Genstar Capital portfolio company Apex Group has completed the purchase of Sanne Group, a global provider of alternative asset and corporate services.

The close of the Sanne acquisition brings an additional 2,500 people into Apex Group and adds six locations in Denmark, Japan, Serbia, South Africa, Spain and Sweden. Apex Group now operates from over 80 offices in more than 40 markets across the world, employing over 10,000 people.

Apex Group is a Hamilton, Bermuda-headquartered global financial services provider. Sanne is headquartered in London.

The addition of Sanne adds further product depth and experience in serving alternative investment firms as well as bringing an expanded geographic footprint. Sanne has a presence in the US, Europe, Africa and APAC. This deal is the largest of 31 completed global acquisitions by Apex Group.

“With today’s announcement we have reached an inflection point in Apex Group’s story, as we become one of the largest providers in our space,” said Peter Hughes, founder and CEO of Apex Group. ”Our M&A strategy is not simply about growth, it’s about expanding our capabilities and experience to be the best possible service partner to our clients. Combined, our global team increases to more than 10,000 people, across over 80 offices and nearly $3trn in assets with a premium book of clients. Bringing Sanne into the group enables us to offer increased product depth, and a wider geographic footprint.”

The deal for Sanne was previously reported here by PE Hub back in August 2021.

Genstar Capital is headquartered in San Francisco with approximately $35 billion in assets under management. It has been investing in businesses for over 30 years. Its investment focus is on financial services, industrials, healthcare, and software.