Apex Group, a financial services provider, has bought MMC Group, New Zealand’s provider of investment administration services.

MMC provides investment administration services to New Zealand’s investment managers. MMC has grown to administer funds over NZ$100 billion (US$68bn) and over 900,000 active investor portfolios, with over 100 clients entrusting MMC with their investment administration. The transaction marks Apex’s entry into New Zealand geography through the addition of an experienced team of 170 people. Apex Group is a financial services provider. Apex delivers an extensive range of services to asset managers, capital markets, private clients and family offices.

Vedran Babic, CEO of MMC Group said, “Being part of the Apex Group will create new opportunities for our clients and people. Our primary focus on setting clients free to accelerate their success will continue and be further enhanced by the Group’s global footprint, resources, access to new technology and services, which the entire investment sector in New Zealand will benefit from.”

Macquarie Capital acted as financial advisor to Apex Group. Rothschild & Co and Cameron Partners served as financial advisors to MMC.