Apex to manage Lorax Capital’s LCP II fund

PRIVATE EQUITY WATCH- Egyptian PE outfit Lorax Capital has appointed financial services provider Apex Group as fund administrator to its new LCP II fund, Private Equity Wire reports. Apex will provide fund administration and corporate services to the fund, including investor reporting, accounting, and compliance services. Lorax has secured USD 142 mn for the new SME-focused fund, including USD 25 mn from the International Finance Corporation, USD 50 mn from the European Bank for Reconstruction and Development, and USD 11 mn from Proparco. The fund is targeting a USD 250 mn final close.