Apex Group launches LRI Middle East
Apex Group Ltd has launched a new subsidiary LRI Investment Management Services (ME) Ltd (LRI Middle East) in the Abu Dhabi Global Market (ADGM) following full regulatory approval by the ADGM Financial Services Regulatory Authority.
The asset management space is constantly evolving and investors are increasingly looking for efficiencies to stay competitive. Based in the fast growing ADGM business community, LRI Middle East will offer third-party Management Company (ManCo) services to Qualified Investor Funds and Exempt Funds, allowing clients in the ADGM to streamline their operations in a cost-effective manner.
Services offered by LRI Middle East include: ADGM ManCo; Investment Management; Risk Management & Valuation; Relationship Management; Fund Structuring & Setup; Regulatory Reporting; and Compliance.
As part of the Apex Group, LRI Middle East’s clients will also benefit from access to a range of administrative and middle office, banking, depositary and custody services offered through the Group’s global network.
The addition of these services to its UAE operation enables the Group to deliver its single-source solution, covering the full value chain, to both new and existing clients in the Middle East. Apex’s longstanding global presence, teamed with its ever-expanding regional operation, will better serve clients in the region as it diversifies both its offering and client base.
This is the latest in a series of announcements from Apex as the Group expands its presence and offering in the ADGM, including the launch of Compliance Services following the acquisition of risk and compliance consultancy Praesidium and the establishment of Corporate Solutions business Throgmorton in the ADGM.
Amin El-Kholy, Managing Director at Apex Group, says: “We are excited to announce the launch of LRI Middle East, allowing our clients in the region to access a true single-source solution. We have been delivering services locally in the UAE for nearly 15 years, and the announcements of recent months show our continued commitment to the region, and offering value-added services for our current and future clients. The addition of third-party ManCo services to Qualified Investor Funds and Exempt Funds enables us to enhance both new and long-standing local relationships even further.”