Apex Group wins fund admin mandateBY CASSANDRA BALDINI | FRIDAY, 24 JUN 2022 12:36PM
Read more: Apex Group, Octopus Investments Australia, Andrea Gallenca, Campbell Ross, Octopus Group, Perennial Partners
Apex Group has announced its appointment by Octopus Investments Australia to service its funds structured around renewables investments.
The global financial services provider will deliver Octopus Australia with fund administration, investor onboarding, share registry and tax services for new fund structures dedicated to investing in renewable energy in Australia.
Apex Group head of private market sales Andrea Gallenca said: "As a carbon neutral business that has offset a lifetime of carbon emissions, Apex is the perfect fit to be supporting Octopus Australia as they invest in renewables."
"Our robust and scalable technologies and fund administration services will allow the Octopus Australia team to focus on facilitating the deployment of capital towards projects which benefit not only their investors, but our planet, now and in the future."
Octopus Group works with wealth managers, investors and institutions and said its one of the largest owners of renewable energy projects in Australia and Europe, owning some 260 assets on behalf of wholesale and institutional investors.
Octopus Australia is responsible for managing over $1 billion of construction and operational assets, and said it is "building a portfolio of renewable energy assets that will help Australia lower its carbon emissions and meet its renewable energy targets while delivering sustainable, long-term returns for investors."
"Within the Octopus portfolio is Australia's largest solar plant, the 333MW facility in Darlington Point, NSW - enough to power 115,000 homes and Octopus recently partnered with the $10 billion Clean Energy Finance Corp, to invest in renewables in Gippsland," Apex Group said.
Octopus Australia head of finance and operations Campbell Ross said: "We believe there is a huge opportunity to unlock investment in renewables by building a bespoke portfolio of renewables assets to create better outcomes for our investors."
"Apex has demonstrated exceptional quality of service, underpinned by flexible and adaptable technology systems and platforms, which crucially, can meet our fund administration needs as they evolve as we continue to grow our portfolio. We look forward to working closely with the knowledgeable Apex team in Australia."
The announcement follows a series of acquisitions for Apex in Australia and New Zealand, including Mainstream Group, MMC and IFAA, and the appointment by Australian growth investor Perennial Partners and nature-based real assets investment manager New Forests.