Apex Group Ltd., established in Bermuda in 2003, is a global financial services provider. With over 45 offices worldwide and 4000 employees, Apex delivers a broad range of solutions to asset managers, capital markets, private clients and family offices. Apex administers over $650 billion in assets globally. Sub-brands within the Apex Group include Throgmorton, LRI and European Depositary Bank.

Ipes was founded in 1998 specifically with Private Equity in mind and pioneered the Private Equity specialist approach to fund administration. Ipes is now part of Apex Group Ltd since 2018



When, in 2015, leading provider of fund administration and outsourcing for European private equity Ipes wanted to grow its headcount and achieve property cost savings it enlisted McCalmont-Woods to help relocate its London office from Victoria in the West End to the City of London where rental values were lower. The resultant acquisition of 8,100 sq ft on a new 10-year lease at 1 Minster Court, EC3 produced immediate cost savings of £750,000 for the business and enabled Ipes to cap its liability for service charge for five years.

When three years later in 2018 Silverfleet Capital realised its investment in Ipes, new business owner Apex Group Ltd (backed by Genstar Capital) resolved to further improve the business’s operational performance by amalgamating all functions into a single office site whereupon McCalmont-Woods was tasked with disposing of the now surplus lease on the 9th floor at 1 Minster Court, EC3.



The successful assignment in 2020 for the full 5-year term remaining under Apex’s lease, to leading UK insurer Direct Line Group, produced £3.25 million cost savings for Apex.


Mark Coppin, Operations Director, Ipes/Apex
“McCalmont-Woods’s flexible, approachable style and years of experience in its sector gave a great deal of confidence that we were getting the best deal available. Moving offices is a once in ten years project for us whereas McCalmont-Woods has been continually guiding clients through this process for as many years. Their pragmatism and knowledge were an essential part of ensuring everything happened smoothly and on budget.”