Apex Group Ltd., a global financial services provider, has been mandated by New Forests, a global investment manager of nature-based real assets and natural capital strategies, to deliver fund services to their African Forestry Impact Platform (AFIP)
News Forests’ AFIP will continue to raise long term institutional capital to support the sustainability and development of Africa’s growing forestry sector, with the aim of raising US$500mn in the next few years. AFIP will invest in a portfolio of plantation forestry operating companies and related assets in sub-Saharan Africa, primarily targeting established assets that can be expected to provide stable and predictable cash flows across a diversified set of markets.
Apex Group is supporting the AFIP’s Singapore domiciled Variable Capital Company (VCC) structure, via its single-source solution delivered by local experts. Apex Group will deliver fund administration services to AFIP, including a full suite of bookkeeping and fund accounting services, including the preparation of financial statements, NAV calculation and FATCA CRS services. The Group will also provide assistance with bank account opening and operation.
Prakash Kharel, head of real assets, Asia Pacific at Apex Group, commented, “We are proud to continue our partnership with New Forests, to support their latest fund which is driving positive change through sustainable forestry in the nature-based real assets space. This appointment to provide fund services to the AFIP VCC is testament to the excellent work of our team to date.”
Aman Bahel, global head of business development at Apex Group, added, “This announcement follows a strong first quarter for new business wins and organic growth at Apex Group as we continue to see strong demand for our single-source solution from both our existing and new clients alike. While the global markets remain challenging for many as we enter Q2, we see a unique opportunity to be a trusted partner for our clients in this uncertain macroeconomic environment. The busy start to 2023 has laid a strong foundation for our further growth in the year ahead, and we expect to build on this success as we celebrate our 20th year in business with the launch of new technology solutions, exciting product innovations and further expansion of our geographic footprint as we strive to deliver exceptional solutions for our clients.”
