Apex Group was appointed by Blue Collective due to its ability to offer both tax and fund administration services through one relationship, underpinned by industry experience and leading technology solutions.
Blue Collective, an early-stage venture capital, growth and buy-out investor, was previously a tax compliance and planning client of FTS, a leading tax services provider, which saw a majority shareholding acquired by Apex Group in April 2022. With FTS becoming part of Apex Group, existing clients - such as Blue Collective - are now benefitting from access to the Group’s global, cross-jurisdictional reach and range of additional services including fund administration, digital banking, compliance solutions and ESG Ratings and Advisory.
Fund administration services form an integral part of Apex Group’s single-source solution, which, according to a recent Total Economic Impact (TEI) report by Forrester Consulting, provides clients with a return on investment of 105% and cost benefits of $5.39m, with a net present value of $2.75m over a three-year period.
Apex Group continues to enhance its ability to offer a comprehensive and high-quality service to all client segments delivered by over 850 employees in the Americas. This latest announcement builds on Apex Group’s organic growth momentum in the Americas, with new business wins including Encore Capital Management and Marlin Capital Partners, and follows the addition of real estate services provider SandsPoint, and the acquisition of Greenough Consulting Group (“GCG”).
Larry Rukin, Managing Director, FTS, now part of Apex Group comments: “We are pleased to announce the expansion of our relationship with the team at Blue Collective to provide fund administration services in addition to existing tax compliance, planning and consultancy support. Apex Group’s acquisition of FTS continues to benefit our clients, who are now able access the Group’s single-source solution, which offers the efficiency and convenience of both fund administration and tax services delivered via one relationship.”
Jay D. Trickett, Partner at Blue Collective further adds: “We have been impressed by the FTS team’s extensive knowledge of the tax requirements of our fund structures, and their acquisition by Apex Group has provided us with access to an expanded range of services supported by leading technologies. Apex Group’s deep industry experience and track record in fund administration will allow us to focus on our core purpose of investing in, and supporting, exceptional growth businesses.”
About Apex Group
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.
About Blue Collective
Blue Collective, founded in 2015, is an early-stage venture capital firm headquartered in Brooklyn, NY with $130 million in assets under management. Blue Collective’s overall strategy is to invest in phenomenal people building phenomenal businesses. Blue Collective invests in people first with a focus on pre-Seed and Seed rounds in businesses across category, business model, and industry. To date, Blue Collective has been an early investor in the entrepreneurs and teams building Tecovas, Unqork, Extra, ZocDoc, Catalina Crunch, Headspin, Revel Transit, and more. The team is always on the lookout for great entrepreneurs wherever they may be and whatever their background. Blue Collective’s website is at www.bluecollective.com and the team is always happy to be an entrepreneur’s first and easiest conversation.
