Thu, Sep 21, 2017
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. Asia - Hedge funds used to love shorting China. Now, not so much, Fledgling China FoFs require careful use: NCSSF, Amac, Japanese banks turn to PE, hedge funds for returns[more]

    Hedge funds used to love shorting China. Now, not so much From Bloomberg.com: A sharp devaluation. A credit crisis. And an economic hard landing. That's what some of the biggest names in the hedge fund industry were predicting for China after the nation's stocks and currency tumbled in 2

  2. Launches - Orchard launches new credit platform, ETN based on hedge fund to launch on the LSE[more]

    Orchard launches new credit platform Orchard Platform has rolled out Deals as a part of its new platform launch. With the addition of Deals to their suite of technology solutions for loan originators and institutional investors, Orchard Platform takes the next step in their evolution. De

  3. Neuberger Berman closes $1.1bn Credit Opportunities Fund[more]

    Neuberger Berman, a private, independent, employee-owned investment manager, announced that NB Private Equity Credit Opportunities Fund LP closed on $1.1 billion of limited partner commitments. The Fund seeks to invest in the secured and unsecured debt of private equity-backed companies, primarily i

  4. Capital Dynamics launches mid-market private credit business[more]

    Capital Dynamics, a global private asset manager, has launched a dedicated Private Credit Asset Management business. Experienced industry executives Jens Ernberg and Thomas Hall have joined Capital Dynamics to co-lead the company's new private credit initiative. They are based in Capital Dynamics' N

  5. ...And Finally - FAN-antic[more]

    From Newsoftheweird.com: Jeffrey Riegel, 56, of Port Republic, New Jersey, left 'em laughing with his obituary's parting shot at the Philadelphia Eagles. In it, Riegel asked that eight Eagles players act as pallbearers, "so the Eagles can let me down one last time." Riegel owned season tickets for 3