Apex Group Ltd. (“Apex” or “The Group”), a global financial services provider, today announces the extension of its longstanding relationship with Aizawa Asset Management (“AAM”) to provide services to their new Cayman fund, Ariake Secondary Fund III LP (“ASF-III).
Apex has been appointed to provide Fund Administration and Regulatory Services to ASF-III, having serviced AAM’s Ariake Secondary Fund I LP (“ASF-I”) and Ariake Secondary Fund II LP (“ASF-II”), since 2015.
AAM, one of Japan’s leading alternative investment management companies, completed the first closing of its third secondary strategy fund, ASF-III, on April 7, 2022, and has onboarded investors for its initial closing phase.
The Cayman Islands-domiciled ASF-III will, in accordance with its secondary strategy, acquire low liquidity assets such as fund LP interests to private equity funds as buy-out funds and venture capital funds, domiciled in and outside Japan, held with Japanese local investors, as well as unlisted company shares held with private equity funds. The partnership fund will co-invest along with top-tier Japanese private equity funds.
This announcement is the latest in a series of high profile appointments for Apex in the thriving Japanese alternative investment market, including Bee Alternatives Limited, an independent manager dedicated to secondary private equity investments and Integral Group, a Tokyo-based private equity group.
Yuko Shimizu, 清水優子, Business Development Director, Apex Group comments: “Secondary strategies are growing in popularity in the Japanese market as asset owners seek solutions for asset liquidation and more GPs and fund managers consider their exit strategies. This latest appointment is evidence of our ability to leverage our global experience from markets where these strategies are more mature, matched with local delivery and expertise.”
Shinobu Miyata, COO, Aizawa Asset Management further comments: “Our business relationship with Apex started in 2015, when we launched our first secondary fund domiciled in the Cayman Islands. Apex is an experienced global administrator, and we have been impressed by the quality of their global team- from the hands-on administration team in Singapore, to the compliance team in Dublin and the knowledgeable Cayman Islands and US tax teams. Apex has demonstrated impressive follow-up through their Japanese relationship director, and the commitment and experience needed to provide excellent administrative support to our secondary fund business and we look forward to continuing to work together.”
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