Global, 24 June 2024 - Apex Group Ltd. (“Apex”) has announced that global investment firm Carlyle’s Global Credit business (“Carlyle”) and Goldman Sachs Private Credit (“Goldman Sachs”) have jointly committed in excess of $1.1 billion into the global financial services provider. This commitment supports Apex’s sustainable growth strategy, following the successful integration of several previous acquisitions, continued strong organic growth, and technological innovations.
Apex's assets on platform now stand at approximately $3.1 trillion serviced across custody, administration, depositary, and under management by over 13,000 employees worldwide. Carlyle and Goldman Sachs have committed to Holdco PIK Notes of Apex to continue supporting the company’s growth plans focusing on optimizing the current platform, strategy, and combined investment in technology innovation.
This builds on the firms’ ongoing relationship with Apex, following an initial Preferred Equity Note in 2020 and a follow-on issuance in 2021. Upon completion of the transaction, Apex will have enhanced its financial profile regarding leverage and liquidity.
Peter Hughes, Founder and CEO at Apex Group, stated: “We are extremely pleased to further expand our relationship with Carlyle and Goldman Sachs. The new issuance validates Apex’s strong business model but will also enable product and geographic expansion as well as further technology investment.”
Financial terms were not disclosed.
Notes to editors
About Apex Group
Apex Group Ltd., established in Bermuda in 2003, is a global financial services provider. With over 13,000 employees globally, Apex Group provides services into 50 jurisdictions delivering an expansive range of services to asset managers, financial institutions, private clients, and family offices. The Group has continually improved its capabilities to offer a single-source solution through establishing a broad range of services including fundraising solutions; fund administration; digital onboarding; bank accounts; depositary; custody; super ManCo; corporate services; and ESG ratings and advisory solutions. Apex Group aims to drive positive change addressing three core areas: environment and climate change; women’s empowerment and economic independence; education; and social mobility.
About Carlyle
Carlyle (NASDAQ: CG) is a global investment firm with deep industry expertise that deploys private capital across three business segments: Global Private Equity; Global Credit; and Global Investment Solutions. With $425 billion of assets under management as of March 31, 2024, Carlyle seeks to invest wisely on behalf of its investors while creating value for portfolio companies and communities globally. Carlyle employs more than 2,200 people in 28 offices across four continents.
About Private Credit at Goldman Sachs Alternatives
Goldman Sachs (NYSE: GS) is one of the leading investors in alternatives globally with over $450 billion in assets under supervision as of March 31, 2024. The firm invests across private equity; growth equity; private credit; real estate; infrastructure sustainability projects; hedge funds among others via direct strategies or customized partnerships.
The alternative investments platform is part of Goldman Sachs Asset Management which delivers investment advisory services across public/private markets for leading institutions/individuals globally.
Established in1996 Private Credit at Goldman Sachs Alternatives manages over $130 billion spanning direct lending mezzanine debt hybrid capital asset-based lending strategies positioning it among largest private credit investors globally leveraging extensive industry/product knowledge/relationships ensuring scaled outcomes speed certainty supporting companies lower middle market large cap size.
