Carlyle Group and Mubadala Investment Co. have acquired minority stakes in Apex Group, a global financial services firm with $1.5 trillion in assets under management, administration, custody and depository, a Carlyle spokeswoman confirmed in an email.
Terms of the deal were not disclosed.
Alternative asset manager Carlyle and Abu Dhabi-based sovereign wealth fund Mubadala now co-own Apex along with Apex Founder and CEO Peter Hughes, majority owner Genstar Capital, and TA Associates, which announced in June that it acquired a "significant minority" stake in the company.
The news follows Carlyle making a preferred equity investment for Apex in November through Carlyle's global credit platform.
"These investments further strengthen our position in the market and signal our intent to continue expanding and evolving our business over the coming months and years," said Apex's Mr. Hughes in a news release announcing the deal.
Luca Molinari, head of financial services at the $243.4 billion Mubadala, added in the release: "Apex is one of the leaders in an attractive sector and we look forward to participating in the next phase of its growth. As a global investor, we invest in businesses that operate in large and growing markets, led by management teams with a proven record of value creation."
Representatives from Mubadala and Apex could not be immediately reached for additional information.
Carlyle has $260 billion in assets under management.
