Apex is a privately owned provider of fund administration and related services to offshore funds and companies. Headquartered in Hamilton, Bermuda and established in 2003, it now has 9 offices in multiple jurisdictions.

Peter Hughes, Managing Director of Apex Fund Services in Bermuda, explained the reasoning behind the move:

“Bahrain is a leading financial centre in the Middle East, which offers the necessary infrastructure, regulatory framework, and cost effective environment needed for us to continue to provide the highest level of service to our clients across the Gulf region. Having been the first regulated fund administrator in the Dubai, it was only logical for us to expand our presence in the Gulf region by opening an office in Bahrain.”

Shaikh Mohammed bin Essa Al-Khalifa, Chief Executive of the Economic Development Board (EDB) of Bahrain added that:

“We are very pleased to welcome such a dynamic and growing business as Apex Fund Services to Bahrain. We are committed to supporting our advancement as a leading regional hub for fund administration. Apex’s decision to locate here is a key endorsement of that strategy.”

Apex Fund Services (Bahrain) WLL is due to begin operations in Manama this month under the leadership of Craig Roberts, Managing Director of Apex Dubai and Nicolas Angio, who joins Apex from Bisys Hedge Fund Services.

The Bahrain office will be regulated by the CBB, and will be able to provide daily, weekly and monthly valuations to traditional funds, hedge funds and private equity funds, in addition to accepting Arabic subscription and redemption documents, and offering expertise in Shari’ah compliant products.