Friday, 1 July 2016
Last updated 3 hours ago
Oct 2 2013 | 9:54am ET
Hedge fund administrator SS&C Technologies has acquired insurance linked-securities specialist Prime Management.
Prime administers $6 billion in assets for 25 clients, ranging from emerging managers to large institutional managers, from offices in Bermuda and Canada.
“Investors are looking to diversify and are attracted to ILS. The knowledge of the Prime team, attention to customer service, and the addition of dedicated ILS expertise is a strategic fit for SS&C’s fund administration services,” said Bill Stone, SS&C CEO, in a statement: “The acquisition is well-aligned to our overall corporate strategy and will enable us to add further value to clients."
The acquisition is the latest for Windsor, Conn.-based SS&C which, in 2012, acquired London-based GlobeOp Financial Services and Texas-based hedge fund administrator Hedgemetrix.