Country for PR: United Kingdom
Contributor: PR Newswire Europe
Monday, May 18 2020 - 06:00
AsiaNet
Apex and BITE Announce Partnership to Deliver New Solutions to Asian Asset Management Market
HONG KONG, May 18, 2020 /PRNewswire-AsiaNet/ --

Apex Group Ltd. ("Apex" or "the Group"), a global financial services provider 
and BITE Investments ("BITE"), a fintech company providing high net worth 
investors ("HNWIs") access to alternative investments, today announce the 
launch of a partnership to deliver enhanced solutions to the Asian asset 
management market.

BITE provides high net worth investors access to alternative asset funds and 
their underlying, direct co-investment opportunities, in smaller more 
manageable sized amounts and has recently closed a pre-Series A funding round 
backed by Apex.

The BITE solution was developed in response to demand from HNWIs who are 
typically "under-allocated" to alternative asset classes including private 
equity, despite the class historically outperforming the S&P 500, particularly 
during "bear markets."

Apex delivers a single-source solution covering the full spectrum of financial 
services products to asset managers, capital markets and private clients via 
over 45 offices and 3,500 employees worldwide. The Group's partnership with 
BITE provides a unique offering for Chinese and other Asian investors globally, 
and those across the broader APAC region, to build an USD Alternatives 
investment portfolio.

This partnership supports the market trend of a shift by HNWIs towards online 
wealth management solutions and diversification of their investment portfolio 
using alternative assets which has been underway in recent years and is being 
accelerated by the current market environment.

Peter Hughes, Founder and CEO of Apex Group:

"The opportunity to partner with BITE comes at an ideal time for Apex as we 
focus our APAC strategy on addressing this underserved space and market 
opportunity. The combination of our fund, financial and corporate services and 
longstanding presence in the region, enables us to partner with BITE to provide 
a technology enabled distribution platform to build Asia's premium online 
alternatives investment platform for high net worth investors.

"We look forward to working with William and their experienced management team 
who bring and excellent track record of building and running fintech and 
financial services firms."

William Rudebeck, Founder and CEO of BITE Investments:

"We are hugely excited by the partnership with the Apex and the ability to 
leverage their institutional global reach to bring BITE's technology driven 
access to outstanding alternative investment opportunities. The partnership 
creates arguably the most compelling solution for investors in the marketplace.

"There are many financial 'supermarkets' for high net worth individuals in 
Asia, but no truly dedicated, trusted, online source of premium alternative 
investments, and yet, given the performance of some alternative investments, we 
see huge demand for such a platform." 

Apex Group

Apex Group Ltd., established in Bermuda in 2003, is a global financial services 
provider. With 45 offices worldwide and 3,500 employees, Apex delivers an 
extensive range of services to asset managers, allocators and financial 
institutions. The Group has continually improved and evolved its capabilities 
to offer a single-source solution through establishing the broadest range of 
products in the industry; including fund services, digital bank account 
opening, paperless onboarding, depositary, custody, super ManCo and business 
solutions including HR and Payroll. www.theapexgroup.com

BITE Investments

BITE is Asia's Premium Alternatives Investment platform. BITE helps investors 
and advisors access funds that would otherwise be inaccessible because they are 
either oversubscribed, too illiquid, or have an institutional-level minimum 
buy-in.

BITE's management team is supported by a world class set of shareholders and 
advisors and operates within the parameters of some of the world's most 
respected regulatory regimes; BITE is majority owned by VCP Advisors, which is 
regulated in North America (FINRA / SEC), Europe (FCA, UK), Asia (SFC, Hong 
Kong) and Cayman (CIMA).

Logo - https://mma.prnewswire.com/media/1168920/Apex_Logo.jpg 
Logo - https://mma.prnewswire.com/media/1168921/BITE_Logo.jpg

Source: Apex and BITE