Source: SS&C Technologies
SS&C Technologies, a global provider of financial services software and outsourcing solutions, today announced that it has acquired all of the assets of New Jersey-based Northport.
Northport, LLC is the fifth SS&C acquisition in the fund administration arena representing one more expansion of SS&C's fund administration outsourcing business. Northport clients range from large firms with numerous investment vehicles to start-ups with a single fund. As an administrator devoted to the private equity community, Northport brings a concentration of experience and twenty-one skilled professionals to SS&C's fund administration offering.
"Northport is a well managed organization with a strong client base and great people who share our commitment to customer service. They are an excellent strategic fit and we view this acquisition as a milestone in the continuing growth of our fund administration business," said Rahul Kanwar, Vice President, SS&C Technologies, Inc.
"We are delighted to become part of the SS&C family," said Nancy G. Farese, Managing Partner, Northport, LLC. "Our people and processes, combined with SS&C's resources and global capabilities, will allow us to expand our service offering for our current and future clients. SS&C's robust support infrastructure and depth of product offerings will be key growth drivers."
SS&C further enhanced its fund administration business in past years through the acquisitions of Amicorp Fund Services Limited, Eisnerfast LLC, OMR Systems Corporation, and Cogent Management Inc. This transaction is not expected to be material to SS&C's financial results for 2007.