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Hedgeweek Global Awards 2018 - Vote now!

Hedgeweek Interviews - Fri, 10/20/2017 - 07:35

Voting for the for the 2018 edition of the annual Hedgeweek Global Awards is now open. These prestigious awards recognise excellence among hedge fund managers and service providers around the world.

Uniquely, our awards are based on a 'peer review system' whereby our readers – including institutional and high net worth investors as well as managers and other industry professionals at fund administrators, prime brokers, custodians and advisers – are invited to elect a 'best in class' in a series of categories via an online survey.

Please make your nominations by completing this survey. 

Please note that you can self-nominate and participate in more than one category.

Award winners will be the companies with the most votes in each of the categories at the end of the voting period. The Hedgeweek Global Awards 2018 provide an excellent opportunity to highlight a company you feel has excelled during the past 12 months and provides a key marketing opportunity for winners. 

The Awards ceremony in London in March 2018, will be covered, along with profiles of the winning companies, in a Hedgeweek Awards Special Report that is distributed to investors and intermediaries globally.

We look forward to announcing the winners in due course.

 

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Schlumberger warns of moderating North American activity

Reuters Business News - Fri, 10/20/2017 - 07:27
(Reuters) - Schlumberger Ltd posted a bigger quarterly profit on Friday as its North American business continues to be helped by strong shale drilling, but the oilfield services giant said that investments in the region was moderating.
Categories: Reuters

P&G's profit rises on higher sales of home care products

Reuters Business News - Fri, 10/20/2017 - 07:18
(Reuters) - Consumer goods giant Procter & Gamble Co on Friday reported a five percent rise in quarterly profit, as it saw higher sales of fabric softeners and laundry detergents.
Categories: Reuters

Schlumberger quarterly profit up on North America drilling

Reuters Business News - Fri, 10/20/2017 - 07:07
(Reuters) - Schlumberger Ltd posted a bigger quarterly profit on Friday, as its North American business continues to be helped by strong shale drilling.
Categories: Reuters

Low pay, no bonus: U.S. retailers struggle with hiring

Reuters Business News - Fri, 10/20/2017 - 06:52
(Reuters) - U.S. retailers are finding it increasingly difficult to hire employees for stores and for middle and higher management as low pay and a feeling of uncertainty clouds the industry following a spate of bankruptcies and store closures.
Categories: Reuters

GE's quarterly revenue rises 14.4 percent

Reuters Business News - Fri, 10/20/2017 - 06:47
(Reuters) - General Electric Co on Friday reported a 14.4 percent rise in revenue, aided by the acquisition of oilfield services provider Baker Hughes , but profit fell in the quarter.
Categories: Reuters

Kobe Steel crisis deepens as plant inspected for breach of industrial law

Reuters Business News - Fri, 10/20/2017 - 06:10
TOKYO (Reuters) - One of Kobe Steel Ltd's copper plants was being inspected for a possible breach of industrial standards, the government said on Friday, while the company said it was investigating reports it continued shipping products after discovering widespread tampering of product data.
Categories: Reuters

Apex Fund Services to acquire Deutsche Bank’s Alternative Fund Services business

Hedgeweek Special Reports - Fri, 10/20/2017 - 06:03

Apex Group’s Apex Fund Services is to acquire Deutsche Bank’s Alternative Fund Services (AFS) business, a deal that will add USD170 billion in AUA and make Apex the eighth largest fund administrator in the world, and the largest independent administrator.

The deal reveals the rapid expansion of Apex since the company was recapitalised by Genstar Capital and simultaneously acquired Equinoxe Alternative Investment Services. The purchase of the AFS business is the most recent significant step in Apex’s movement towards its stated goal of being a top five global fund services business.
 
Apex’s global reach and connected operating model opens up an additional 18 investment jurisdictions to AFS clients, with local expertise available through the Apex network of offices. The combination of AFS and Apex will also enable a broader range of products and services to be offered to clients. Apex’s local service delivery model, coupled with AFS’ management, staff and platform, will ensure client service continues at the highest level. It is this service model and the global network of offices that has enabled Apex to achieve one of the fastest organic growth rates in the sector. Terms of the agreement are not being disclosed. The transaction is expected to close in the second quarter 2018.
 
“This is another significant step in the evolution of the Apex Group. This transaction complements the existing Apex business and further strengthens our position as the leading independent provider of fund services globally,” says Peter Hughes (pictured), Founder and CEO at Apex. “This acquisition is consistent with Apex’s ongoing commitment to continued strategic investments and to developing our product offering to become the most complete partner in the sector.”
 
“The Apex team is working closely with Deutsche Bank to ensure a seamless transition and we are committed to providing our new customers with the same high level of service our current Apex customers have come to expect and delivering additional and tailored services to the AFS clients. Apex’s philosophy for delivering tailored and client-centric service on a local level remains the same. We are delighted to welcome the AFS management and staff to Apex and look forward to continuing to develop our global team as we step closer to our target of becoming one of the world’s top five largest fund administrators,” adds Hughes.
 
Tony Salewski, Managing Director of Genstar Capital, says: “We are excited to continue supporting Apex’s growth trajectory through the acquisition of this high-quality business. AFS expands Apex’s sophisticated private equity and real estate servicing offering, and adds complementary banking products to Apex’s global client base. The combination yields benefits to the clients of both Apex and AFS.”
 
“A key goal with this transaction was to find a partner that will continue to deliver high quality services to our Alternative Fund Services clients. We feel we have achieved our objective with Apex, with whom Deutsche Bank is looking forward to working closely over the coming months,” says Satvinder Singh, Global Head of Securities Services at Deutsche Bank.
 
Macquarie Capital acted as exclusive financial advisor and Willkie Farr & Gallagher provided legal counsel to Genstar and Apex. Deutsche Bank acted as financial advisor and Freshfields, Bruckhaus Deringer provided legal counsel to Deutsche Bank.

offDeals and TransactionsAcquisitionsServicesFund administration

Apex Fund Services to acquire Deutsche Bank’s Alternative Fund Services business

Hedgeweek News - Fri, 10/20/2017 - 06:03

Apex Group’s Apex Fund Services is to acquire Deutsche Bank’s Alternative Fund Services (AFS) business, a deal that will add USD170 billion in AUA and make Apex the eighth largest fund administrator in the world, and the largest independent administrator.

The deal reveals the rapid expansion of Apex since the company was recapitalised by Genstar Capital and simultaneously acquired Equinoxe Alternative Investment Services. The purchase of the AFS business is the most recent significant step in Apex’s movement towards its stated goal of being a top five global fund services business.
 
Apex’s global reach and connected operating model opens up an additional 18 investment jurisdictions to AFS clients, with local expertise available through the Apex network of offices. The combination of AFS and Apex will also enable a broader range of products and services to be offered to clients. Apex’s local service delivery model, coupled with AFS’ management, staff and platform, will ensure client service continues at the highest level. It is this service model and the global network of offices that has enabled Apex to achieve one of the fastest organic growth rates in the sector. Terms of the agreement are not being disclosed. The transaction is expected to close in the second quarter 2018.
 
“This is another significant step in the evolution of the Apex Group. This transaction complements the existing Apex business and further strengthens our position as the leading independent provider of fund services globally,” says Peter Hughes (pictured), Founder and CEO at Apex. “This acquisition is consistent with Apex’s ongoing commitment to continued strategic investments and to developing our product offering to become the most complete partner in the sector.”
 
“The Apex team is working closely with Deutsche Bank to ensure a seamless transition and we are committed to providing our new customers with the same high level of service our current Apex customers have come to expect and delivering additional and tailored services to the AFS clients. Apex’s philosophy for delivering tailored and client-centric service on a local level remains the same. We are delighted to welcome the AFS management and staff to Apex and look forward to continuing to develop our global team as we step closer to our target of becoming one of the world’s top five largest fund administrators,” adds Hughes.
 
Tony Salewski, Managing Director of Genstar Capital, says: “We are excited to continue supporting Apex’s growth trajectory through the acquisition of this high-quality business. AFS expands Apex’s sophisticated private equity and real estate servicing offering, and adds complementary banking products to Apex’s global client base. The combination yields benefits to the clients of both Apex and AFS.”
 
“A key goal with this transaction was to find a partner that will continue to deliver high quality services to our Alternative Fund Services clients. We feel we have achieved our objective with Apex, with whom Deutsche Bank is looking forward to working closely over the coming months,” says Satvinder Singh, Global Head of Securities Services at Deutsche Bank.
 
Macquarie Capital acted as exclusive financial advisor and Willkie Farr & Gallagher provided legal counsel to Genstar and Apex. Deutsche Bank acted as financial advisor and Freshfields, Bruckhaus Deringer provided legal counsel to Deutsche Bank.

offDeals and TransactionsAcquisitionsServicesFund administration

Apex Fund Services to acquire Deutsche Bank’s Alternative Fund Services business

Hedgeweek Jobs - Fri, 10/20/2017 - 06:03

Apex Group’s Apex Fund Services is to acquire Deutsche Bank’s Alternative Fund Services (AFS) business, a deal that will add USD170 billion in AUA and make Apex the eighth largest fund administrator in the world, and the largest independent administrator.

The deal reveals the rapid expansion of Apex since the company was recapitalised by Genstar Capital and simultaneously acquired Equinoxe Alternative Investment Services. The purchase of the AFS business is the most recent significant step in Apex’s movement towards its stated goal of being a top five global fund services business.
 
Apex’s global reach and connected operating model opens up an additional 18 investment jurisdictions to AFS clients, with local expertise available through the Apex network of offices. The combination of AFS and Apex will also enable a broader range of products and services to be offered to clients. Apex’s local service delivery model, coupled with AFS’ management, staff and platform, will ensure client service continues at the highest level. It is this service model and the global network of offices that has enabled Apex to achieve one of the fastest organic growth rates in the sector. Terms of the agreement are not being disclosed. The transaction is expected to close in the second quarter 2018.
 
“This is another significant step in the evolution of the Apex Group. This transaction complements the existing Apex business and further strengthens our position as the leading independent provider of fund services globally,” says Peter Hughes (pictured), Founder and CEO at Apex. “This acquisition is consistent with Apex’s ongoing commitment to continued strategic investments and to developing our product offering to become the most complete partner in the sector.”
 
“The Apex team is working closely with Deutsche Bank to ensure a seamless transition and we are committed to providing our new customers with the same high level of service our current Apex customers have come to expect and delivering additional and tailored services to the AFS clients. Apex’s philosophy for delivering tailored and client-centric service on a local level remains the same. We are delighted to welcome the AFS management and staff to Apex and look forward to continuing to develop our global team as we step closer to our target of becoming one of the world’s top five largest fund administrators,” adds Hughes.
 
Tony Salewski, Managing Director of Genstar Capital, says: “We are excited to continue supporting Apex’s growth trajectory through the acquisition of this high-quality business. AFS expands Apex’s sophisticated private equity and real estate servicing offering, and adds complementary banking products to Apex’s global client base. The combination yields benefits to the clients of both Apex and AFS.”
 
“A key goal with this transaction was to find a partner that will continue to deliver high quality services to our Alternative Fund Services clients. We feel we have achieved our objective with Apex, with whom Deutsche Bank is looking forward to working closely over the coming months,” says Satvinder Singh, Global Head of Securities Services at Deutsche Bank.
 
Macquarie Capital acted as exclusive financial advisor and Willkie Farr & Gallagher provided legal counsel to Genstar and Apex. Deutsche Bank acted as financial advisor and Freshfields, Bruckhaus Deringer provided legal counsel to Deutsche Bank.

offDeals and TransactionsAcquisitionsServicesFund administration
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