Herakles is a U.S.-based private equity investor, focussed on investing in attractive upper mid-market Sub-Saharan African companies both private and public. Apex Group will deliver fund administration services to Herakles.
The Knight Foundation report published in 2022, shows that only 1.4% of total U.S.– based AUM is managed by diverse-owned firms as of September 2021, despite those managers generating total returns in-line with the industry overall. Apex Group is committed to enabling diverse managers through the provision of market-leading fund services and to driving positive change and equity in the industry.
Fund administration is at the core of Apex Group’s single-source solution, which encompasses a wide range of services under one roof, this will enable Herakles to create efficiencies, reduce costs and improve controls by outsourcing the back-, middle- and front-office operational framework.
This announcement follows the recent expansion of Apex Group’s pioneering ESG Ratings & Advisory Services with the launch of a new diversity, equity, equality and inclusion (“DEI”) solution, enabling private markets investors to collect, evaluate and improve on their DEI practices. Apex Group’s DEI Solution generates actionable insights including detailed analysis of gender, race, ethnicity, and other key DEI areas, fully integrated alongside wider ESG reporting for customers, investors and regulators.
Krishna Prasad, Country Head - US, Apex Group comments: “Our purpose as a business is to drive positive change for a more inclusive, equitable and socially responsible future, and to be the partner of choice to help diverse investor groups and management teams achieve their potential. Addressing diversity, equity and inclusion in the global economy and capital flows, including capital management and ownership is an essential part of this. We are delighted to be supporting Herakles with our fund administration services, allowing the Herakles team to focus on raising and investing capital to drive the global expansion of African businesses.”
Aubrey Sibanyoni, Co-Founder and CEO of Herakles further comments: “We chose to partner with Apex Group not only based on the strength of their services, but also because of our shared values and commitment to championing diversity, equity and inclusion in the financial services industry. Apex Group services $3 trillion of assets globally and has a powerful platform to drive and support positive change and we look forward to working together to unlock the untapped economic potential of capital deployed by diverse management teams. Their flexible and robust services will ensure that at Herakles are able to efficiently invest capital, report to our investors and manage capital with the highest levels of compliance and transparency.”
Press contact:
Apex Group Ltd., established in Bermuda in 2003, is a global financial services provider. With over 80 offices in 40 countries worldwide and more than 10,000 employees upon the close of announced acquisitions, Apex Group delivers an expansive range of services to asset managers, financial institutions, private clients and family offices. The Group has continually improved and evolved its capabilities to offer a single-source solution through establishing the broadest range of services in the industry; including fund services, digital onboarding and bank accounts, depositary, custody, super ManCo services, corporate services including HR and Payroll and a pioneering ESG Ratings and Advisory solution. Apex Group’s purpose is to be more than just a financial services provider and is committed to driving positive change to address three core areas; the Environment and Climate Change, Women’s Empowerment and Economic Independence, Education and Social Mobility.
Antonia Powell | antonia.powell@apexfs.com | +44(0) 778 990 229
About Herakles Investment Partners
Herakles Investment Partners is a buyout and growth private equity firm focused on investing in attractive upper mid-market Sub Saharan African companies both private and public. Our unique differentiator is that we look for companies that are poised for global expansion from the continent.
