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Apex takes majority stake in distributed ledger company

The fund administrator is expanding its digital assets capabilities with the FundAdminChain buy.

Fund administrator Apex Group has expanded its digital asset capabilities by acquiring a majority stake in distributed ledger business FundAdminChain (FAC).

The acquisition will allow Apex to leverage new technologies, drive adoption of tokenized funds and improve ways of launching, distributing, trading and settling funds for its clients.

FAC connects fund investors, managers and service providers through a digital distributed ecosystem. Adding FAC’s technology will enable faster and cheaper launching and distribution of funds, the ability to trade tokenized funds on secondary decentralized finance (DeFi) markets, as well as delivering improved experiences for both fund managers and investors for Apex’s clients.

Peter Hughes

Apex founder and CEO Peter Hughes said in a statement: “Recent developments in distributed ledger technology and digital asset tokenization are driving significant transformation within the asset management industry.”

This is the latest global acquisition by the fund administrator, following deals for firms in India, Australia, New Zealand and Israel.

Last month, the fund administrator acquired India-based fund services company BEST Alternative Advisory Services.