Tue, Jul 29, 2014
A A A
Welcome Guest
Free Trial RSS
Get FREE trial access to our award winning publications
Industry Updates

Financial software provider SS&C acquires fund administrator Gravity Financial

Friday, September 28, 2012
Opalesque industry Update – SS&C Technologies Holdings, Inc., a global provider of financial services software and software-enabled services, today announced it has acquired Gravity Financial, a Northeast-based full-service fund administrator.

The transaction, which adds 40 fund services customers and 10 staff, supports SS&C's strategy of targeted growth and leadership in the alternative fund services industry. The acquisition will provide Gravity’s clients with access to the same outstanding team they work with today, backed by SS&C’s broader range of software and services for the alternative investment management industry.

“This acquisition expands our fund services capabilities with a talented group of professionals,” said Bill Stone, Chairman and Chief Executive Officer, SS&C Technologies. “The acquisition is well-aligned to our overall corporate strategy and will enable us to add further value to clients in the Northeast."

The business will operate under the name SS&C GlobeOp and will be led by the founding partner of Gravity Financial, Kirby Richards, CPA, and Paul Timmins, CPA, who have joined SS&C GlobeOp as part of the transaction.

“SS&C's financial strength, combined with its fund services and innovative solutions presents tremendous value to our clients," said Kirby Richards, CPA. "We are excited about joining the exceptional team at SS&C and further building our business.”

Press release

Founded in 2002, Gravity Financial is a boutique full-service fund administrator providing accounting, tax, investor services and outsourced CFO services to a wide variety of domestic and offshore hedge funds, private equity funds, venture capital funds, funds of funds and their investment managers. The company is SSAE 16 certified. Gravity’s principals, who combined have almost 50 years of financial services industry experience and more than 25 years of alternative investments experience, include certified public accountants who have served as chief financial officer, chief compliance officer, and big four senior audit and tax managers. www.gravityfinancial.com

SS&C is a global provider of investment and financial software-enabled services and software focused exclusively on the global financial services industry. Founded in 1986, SS&C has its headquarters in Windsor, Connecticut and offices around the world. Some 5,500 financial services organizations, from the world’s largest institutions to local firms, manage and account for their investments using SS&C's products and services. These clients in the aggregate manage over $16 trillion in assets. www.ssctech.com

Bg

What do you think?

   Use "anonymous" as my name    |   Alert me via email on new comments   |   
Today's Exclusives Today's Other Voices More Exclusives
Previous Opalesque Exclusives                                  
More Other Voices
Previous Other Voices                                               
Access Alternative Market Briefing
  • Top Forwarded
  • Top Tracked
  • Top Searched
  1. Hedge fund manager Winton Capital making headway with long-only strategy[more]

    From PIonline.com: North American investors are helping Winton Capital Management Ltd. make progress — albeit slowly — toward its founder's goal of becoming a $100 billion company. The firm's ticket to quadrupling its assets under management is unlikely to be one of its scientifically designed manag

  2. Opalesque Roundtable: Success in hedge fund marketing not linked to performance, but investor appetite[more]

    Komfie Manalo, Opalesque Asia: Success in marketing a fund is not linked to the performance, but to investor appetite, to the way you can market the fund, and to how much time you can spend to raise assets, said Antoine Rolland, the CEO of incubator and seeding firm

  3. Opalesque Radio: Now is a good time to buy protection cheaply in the options market[more]

    Benedicte Gravrand, Opalesque Geneva: Investors are showing an increased interest in risk parity funds and strategies, Opalesque reported last year. Risk parity strategies have the

  4. The Big Picture: Charlemagne Capital smoothes risk out of frontier market investing with portfolio approach[more]

    Benedicte Gravrand, Opalesque Geneva: Opalesque recently talked to one of the portfolio managers of the Oaks funds, which are emerging and frontier market hedge funds focusing on equity long/short with a directional approach. They are run by

  5. Winton’s low-cost equities fund tops $1bn for first time[more]

    From FT.com: Winton, the London-based hedge fund, has increased the assets in its low-cost equities fund to more than $1bn for the first time in a sign that traditional stock managers may come under increasing pressure from computer-driven rivals. Winton, which manages about $25bn in total ass