SS&C Acquires CommonWealth Fund Services

Oct 16 2017 | 9:14pm ET

Hedge fund services provider SS&C Technologies Holdings has acquired fast-growing Toronto-based fund administrator CommonWealth Fund Services, bringing more than 100 fund relationships and some $8 billion in assets under administration under its umbrella. 

The acquisition bolsters SS&C's footprint in Canada and brings aboard a talented management team and staff to the company, according to a statement. Terms were not disclosed.

CommonWealth provides a full range of administration services to hedge funds, private equity funds, real estate funds, fund of funds, family offices, and other institutions. Over the past two years, CommonWealth has doubled its assets under administration, SS&C said.

"The acquisition strengthens our presence in the Canadian fund services market and furthers our strategy to expand our international business," said Bill Stone, CEO of SS&C Technologies, in the statement. 

CommonWealth was founded in 2007 and rapidly made a mark in the fund administrator space, quickly growing to more than $8 billion in AUA. The firm calculates fund net asset values on a daily, weekly, monthly, or quarterly basis, acts as transfer agent, and supports its clients with financial statement and tax return preparation.

SS&C, meanwhile, is a global provider of investment and financial software-enabled services and software for the global financial services industry. Founded in 1986 and headquartered in Windsor, the company helps some 11,000 financial services organizations, from the world's largest institutions to local firms, manage and account for their investments. 

In Depth

PAAMCO: Will Inflation Deflate the Asset Bubble?

Jan 30 2018 | 9:49pm ET

As the U.S. shifts from monetary stimulus to fiscal stimulus, market pricing should...


CFA Institute To Add Computer Science To Exam Curriculum

May 24 2017 | 9:25pm ET

Starting in 2019, financial industry executives sitting for the coveted Chartered...

Guest Contributor

Boost Hedge Fund Marketing ROI By Raising Your ROO

Feb 14 2018 | 9:57pm ET

Tasked with delivering returns on client capital, a common dilemma for many alternative...