SCOTTSDALE, Ariz.--(BUSINESS WIRE)--Estancia Capital Partners, L.P. (“Estancia”), a leading private equity
fund focused exclusively on the global asset management, wealth
management and related business services industries, announced today
that it has entered into definitive agreements with Apex Fund Services
(“Apex”) and Genstar Capital (“Genstar”) to sell its interest in
Equinoxe Alternative Investment Services (“Equinoxe”). The combined
business will administer close to $80 billion in assets for hedge fund,
private equity and insurance clients. Estancia will retain an equity
stake in the combined business and will continue to support the firm’s
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growth plans.
Takashi Moriuchi, Managing Director of Estancia, states, “It’s been a
pleasure to partner with Equinoxe’s management team in building a global
alternative fund administration firm that grew from $11 billion to $24
billion in assets since formalizing our partnership. We view the merger
with Apex as the next step in the company’s evolution by providing
additional resources and back office solutions to Equinoxe’s most
valuable asset, its clients.”
Equinoxe’s management team was led by CEO and Founder Stephen Castree.
Commenting on the transaction, Mr. Castree stated, “We were delighted to
partner with Estancia as our growth capital sponsor. The principals
shared our vision of building a global alternatives administration
business focused on responsive, high touch client service. Our team is
excited to combine strengths with Apex, which will allow our clients to
benefit from our combined scale and shared philosophy of providing the
highest quality service.”
Estancia Managing Director, Danny Kang added, “The fund administration
industry has a few at scale independent service providers, and we
support Apex/Genstar’s objective to become a top independent global fund
administrator within the next five years. We look forward to working
with our new partners to accelerate growth through complementary add-on
acquisitions and delivering a suite of solutions/services to the
alternative investments industry.”
The closing of the transaction is subject to customary closing
conditions, including the receipt of regulatory approvals.
Davis Graham & Stubbs, LLP served as legal counsel to Estancia. BeesMont
Law Limited served as legal counsel to Equinoxe.
About Estancia
Estancia is a private equity firm focused on small to lower middle
market investments in Institutional Quality Asset Management, Wealth
Management and related Business Services companies. The Principals –
Messrs. Mendez, Moriuchi, Kang, Jeffries and Kurttila – have a history
of partnering with management and investment teams in providing equity,
growth and working capital to facilitate strategic and opportunistic
development of portfolio companies including management buy-outs from
larger financial firms, private ownership/succession transitions and
growth initiatives. Estancia is currently investing on behalf of a
diverse base of Limited Partners.
About Equinoxe
Equinoxe is a premium boutique service provider founded in 2007 by
experienced hedge fund administration professionals. Headquartered in
Bermuda, Equinoxe’s global reach includes additional offices in Dublin,
Sligo, Atlanta, Malta, Mauritius and Singapore. Equinoxe is a
full-service alternative fund administration firm with $24 billion of
assets under administration from over 200 alternative investment funds.
Contacts
Estancia Capital Partners
Mr. Takashi Moriuchi, 480-448-5002
or
Mr.
Danny Kang, 480-448-5003