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Komfie Manalo, Opalesque Asia: Financial services software provider SS&C Technologies Holdings, Inc., is to acquire Wells Fargo Global Fund Service (GFS), a provider of administration, middle-office, operations and cash/collateral management services to alternative investment managers, for an undisclosed amount.
"The acquisition of GFS will create a compelling advantage for our customers as they access and manage sophisticated asset classes," said Bill Stone, chairman and chief executive officer, SS&C Technologies in a statement. "This transaction will expand our capabilities in the global fund market, reinforcing SS&C at the forefront among fund administration and extending our strong cloud-based platform for future growth."
GFS administers more than $42bn in alternative assets, covering strategies traded by global portfolio managers including fixed income, credit, distressed, structured credit, macro, equity, commodities, CDO, CLO, private equity, private debt, real estate and hybrid structures. Wells Fargo's fund administration business has in, Hong Kong, London, New York, Minneapolis and Singapore.
"Joining with SS&C will allow us to dramatically accelerate our global growth plans and pace of innovation," said Chris Kundro, head of GFS. "SS&C's innovations in cloud, mobility and fund technology are transforming in...................... To view our full article Click here
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