Apex Group Ltd, a global financial services provider, has acquired Pacific Fund Systems, a global fund administration software business serving open and closed ended traditional and alternative funds, including hedge funds and private equity investment vehicles, from co-founders and Pollen Street Capital.

Apex Group Ltd, a global financial services provider, has acquired Pacific Fund Systems (PFS), a global fund administration software business serving open and closed ended traditional and alternative funds, including hedge funds and private equity investment vehicles, from co-founders and Pollen Street Capital.

This acquisition follows Apex Group’s longstanding partnership with PFS through the use of PFS-PAXUS and will expand use of the technology platform to deliver independent portfolio accounting, fund and investor reporting.

Founded in 1999, PFS supports the investment fund clients via its core PFS-PAXUS product. PFS-PAXUS is a specialist accounting and administration software used by more than 4,000 individual users at over 100 clients managing over $1 trillion of assets under management.

PFS-PAXUS aims to integrate all the processes that are normally performed on multiple systems, including: securities portfolio, allocation system, general ledger, fee calculation, share registry, investor communications and web portal.