Carlyle’s international credit score enterprise and Goldman Sachs Personal Credit score have collectively dedicated greater than $1.1bn (£867,000) into Apex Group’s new issuance of holdco payment-in-kind (PIK) notes.
The fund administrator mentioned that the 2 asset managers’ dedication endorses its sustainable progress technique, following the profitable integration of a variety of earlier acquisitions, continued robust natural progress and technological improvements.
The transaction boosts Apex Group’s leverage and liquidity and might be used to optimise the present platform and technique, and put money into know-how innovation.
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The brand new issuance builds on the 2 companies’ current relationship with Apex, following an preliminary most well-liked fairness notice in 2020 and a follow-on issuance in 2021.
Apex’s property on the platform now stand at round $3.1tn, serviced throughout custody, administration, depositary and below administration by over 13,000 staff worldwide.
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“We’re extraordinarily happy to additional broaden our relationship with Carlyle and Goldman Sachs,” mentioned Peter Hughes, founder and chief govt at Apex Group.
“The brand new issuance validates Apex’s robust enterprise mannequin however will even allow product and geographic growth in addition to additional know-how funding.”
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