SS&C Closes Acquisition of CommonWealth Fund Services
Oct 13, 2017
Acquisition of fast-growing Canadian fund administrator adds more than 100 fund relationships
WINDSOR, CT, October 13, 2017 (PR NEWSWIRE) – SS&C Technologies Holdings, Inc. (Nasdaq: SSNC), a global provider of financial services software and software-enabled services, today announced the acquisition of CommonWealth Fund Services Ltd. (“CommonWealth”), an award-winning Canadian fund administrator servicing over $8 billion in assets. The newly acquired business expands SS&C’s footprint in Canada and adds a talented management team and staff.
Headquartered in Toronto, 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.
“We are pleased to welcome CommonWealth’s team and clients,” said Bill Stone, Chairman and Chief Executive Officer, SS&C Technologies. “The acquisition strengthens our presence in the Canadian fund services market and furthers our strategy to expand our international business.”
“With our combined expertise, technology and talent, there’s simply no better team to enable clients to stay a step ahead. Joe Zhang and I, together with our staff, are excited to join SS&C during this next growth phase,” said Mackenzie Crawford, Managing Director. “Most importantly, both companies share two core values: constantly demonstrating an unwavering dedication to client success and ensuring a positive corporate culture. Our clients and employees are enthusiastic about future opportunities.”
About SS&C Technologies
SS&C is a global provider of investment and financial software-enabled services and software for the global financial services industry. Founded in 1986, SS&C is headquartered in Windsor, Connecticut and has offices around the world. Some 11,000 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.
About CommonWealth Fund Services Ltd.
Founded in 2007, CommonWealth Fund Services Ltd. is a Canadian fund administrator servicing 100 domestic and offshore investment funds totalling more than $7.5 billion in assets. CommonWealth 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. The firm has its Section 3416 qualification. CommonWealth’s parent company, Caledon Trust Company, is federally chartered and regulated by the Office of the Superintendent of Financial Institutions. Caledon acts as trustee for many funds which CommonWealth administers. Further information on CommonWealth is available on the company’s web site at www.commonwealthfundservices.com.