FInancial services provider Apex Group (Apex) has announced that global investment firm Carlyle and sovereign investor Mubadala Investment Company (Mubadala) have taken minority stakes in the business.

Carlyle and Mubadala have invested in the ordinary share capital, alongside founder and chief executive officer Peter Hughes, majority investor Genstar, and growth investor TA Associates.

This investment builds on Carlyle’s relationship with Apex following a preferred equity investment in November 2020, both of which were provided by Carlyle’s global credit platform.

It also follows the announcement earlier this week that the group has secured corporate ratings from Moody’s Investors Service and S&P Global Ratings.

Following an investment from private equity investor Genstar in 2017, Apex has increased its assets under administration from $50 billion to $1.5 trillion in assets serviced across administration, custody, depositary and under management, delivered by nearly 5,000 employees across 50 offices worldwide.

Commenting on the announment, Peter Hughes, founder and chief executive officer at Apex Group said: “We are extremely pleased to be expanding our relationship with Carlyle and to welcome Mubadala to our investor base. We are proud to now have the equity backing of three highly reputable institutions, including our majority owner Genstar, and now joined by Mubadala. 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.”