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LCP selects Apex for fund administration and corporate services

Staff writer
Oct. 27, 2020, 11:15 p.m.

Word count: 318

Apex Group, a global financial services provider, has been appointed to provide fund administration and corporate services to LCP Fund II.

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Apex Group, a global financial services provider, has been appointed to provide fund administration and corporate services to LCP Fund II.

Incorporated in 2015, Lorax Capital Partners (LCP) is an Egypt focused private equity firm.

Over the course of the last five years, LCP has supported the Egyptian American Enterprise Fund (EAEF) in deploying c.$175m across five companies.

Adnan Razzak, Director of Operations at Lorax Capital Partners, added: ”We appointed Apex due to their strong reputation and ability to provide the all-inclusive fund administration, accounting and investor reporting services required across multiple jurisdictions.”

“We have been particularly impressed with their ability to guide us through regulatory challenges and our decision to domicile the fund in the Netherlands. Our management team has an unmatched track record in sourcing, executing and managing transactions in Egypt and Apex’s support will enable us to focus on these core competencies.”

Apex’s experienced team will deliver a full suite of fund administration services to the LCP Fund II entities including investor reporting, accounting, corporate and compliance services.

Fund administration is at the core of Apex’s offering, providing clients with timely, accurate and independent solutions using innovative technology and highly qualified personnel with local expertise.

These services will enable the delivery of accurate financial information, multi-currency transaction processing and flexible investor reporting.

Glyn Gibbs, Regional Head of Business Development, MENA at Apex Group, said: “We are pleased to be working with LCP to provide corporate and fund administration services to their second fund. This appointment is testament to our global reach, assisting them from the very earliest stages of the project, including execution as well as delivering the full benefits of our single-source model utilising our local experts combined with our broad experience of the African private equity sector.” 

“We look forward to supporting LCP to provide flexible fund administration services as they continue in their role as one of Egypt’s leading private equity investors.”

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