Cains has acted for Pacific Fund Systems, a leading global fund administration software business, on the sale of the entire issued share capital of Pacific Fund Systems Holdings Limited to Apex Group Ltd, a global provider of financial services. Pacific Fund Systems is well known for its specialist accounting and administration software, PFS-Paxus, which fully supports the administration of all manner of open and closed ended traditional and alternative funds, including hedge funds and private equity investment vehicles. PFS-Paxus is used by more than 4,000 individual users at over 100 clients managing over $1 trillion of assets under management. The acquisition is well matched with Apex’s long-standing partnership with Pacific Fund Systems, having already been a user of PFS-Paxus.
Scott Leonard-Morgan commented: “We are delighted to have acted on this matter, supporting Pacific Fund Systems and Proskauer by advising on all Isle of Man legal aspects of this acquisition with input from both our corporate and employment departments. We wish the group under its new ownership all the best with its next chapter.”