For Immediate Release
SS&C Completes Acquisition of Citi’s Alternative Investor Services Business
Acquisition creates industry’s 2nd largest alternatives fund administrator
WINDSOR, CT, March 11, 2016 (PR NEWSWIRE)
– SS&C Technologies Holdings, Inc. (Nasdaq:SSNC), a global provider of financial services software and software-enabled services, today announced it
has completed the acquisition of Citi’s Alternative Investor Services Business, a leading provider of hedge fund and private equity fund administration
services. SS&C acquired the business unit from Citi for approximately $321 million.
Citi’s Alternative Investor Services Business is a top 10 fund administrator and through the acquisition SS&C will add more than 1,400 staff across 13
offices, 265 customers, and approximately $395 billion in assets under administration. The acquired Alternative Investor Services Business group will
operate as a business unit within SS&C GlobeOp and continue to be led by its current leaders, Mike Sleightholme on hedge fund services and Joe
Patellaro on private equity services, reporting to Rahul Kanwar, Head of SS&C Alternative Assets. Mr. Sleightholme and Mr. Patellaro will be supported
by their talented management teams who have many years of industry experience and tenure.
"The combination of Citi’s Alternative Fund Services Business and SS&C GlobeOp will create a worldwide fund administration powerhouse. The combined
entity will have over 1 trillion in assets under administration," said Bill Stone, Chairman and Chief Executive Officer, SS&C Technologies. “We intend
to extend our lead in globally delivered, technologically advanced fund services.”
This acquisition furthers SS&C’s mission of being a global leader in fund administration. By adding Citi’s leading hedge and private equity divisions
to SS&C’s leading industry expertise and technology, the combination will create the industry’s second largest hedge fund and private equity
SS&C will host a conference call and webcast with the financial community Monday, March 14 at 9:00 a.m. Eastern Time. Dial +1 877-312-8798
(US and Canada) or +1 253-237-1193 (International), and request the "SS&C Technologies conference call on Citi’s Alternative Investor Services
acquisition"; conference ID# 71263644. Alternatively a live audio webcast with slides can be accessed via http://investor.ssctech.com. A replay of the
conference call will be available two hours after the conference call until noon on March 21, 2016. The dial-in number is +1 855-859-2056 (US and
Canada) or +1 404-537-3406 (International); access code# 71263644.
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 10,000 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. These clients manage an aggregate of
over $44 trillion in assets.
Chief Financial Officer
Tel: +1 860-298-4738
Tel: +1 212-367-4705