Thu, Sep 29, 2016
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. Nobel Sustainability Trust, Prince Albert II of Monaco help launch major new initiative to drive sustainable technologies[more]

    Matthias Knab, Opalesque: The Nobel Sustainability® Trust ("NST") is leading a major new initiative to finance, incubate and accelerate the development of clean technologies. The initiative will start with the formation of the Nobel Sustainability Fund® ("NSF"). NSF will drive faster access t

  2. Studies - Hedge funds’ study reveals vast disparity in types of investors securing side letter arrangements, Cambridge: Look to private investments for best access to LatAm growth[more]

    Hedge funds’ study reveals vast disparity in types of investors securing side letter arrangements A new study of the hedge fund space by industry law firm Seward & Kissel LLP reveals a wealth of information regarding established hedge fund managers’ use of side letters—special agreements

  3. Activist News - Caesars 'optimistic' on deal with hedge fund creditors[more]

    From Reuters.com: Caesars Entertainment Corp said on Monday it remains "optimistic" of reaching a $5 billion deal with the bulk of its creditors to push its main operating unit out of bankruptcy, but one hedge fund bondholder said it will pursue litigation. Caesars offered a sweetened $5 billion set

  4. Hedge funds recover from losses as central banks give markets a respite[more]

    Komfie Manalo, Opalesque Asia: The Lyxor Hedge Fund index was up 0.4% from the week ending September 20 (-2.4% YTD), supported by the willingness of central banks to remain accommodative, Lyxor Asset Management said in its weekly briefing. It ad

  5. Perry Capital closing flagship fund after almost three decades[more]

    From Blooomberg.com: Richard Perry, one of the biggest names in hedge funds, is calling it quits after 28 years. Perry, 61, is winding down his New York-based flagship fund as the industry confronts one of the most tumultuous periods in its history. In a letter to investors Monday, he said his style