SS&C Technologies, a global provider of financial services software and software-enabled services, today announced The Archstone Partnerships, a multi-strategy funds of hedge funds manager with US$ 4.7 billion in assets under management, has appointed SS&C Fund Services to handle the fund administration and accounting for its funds of hedge funds.
The Archstone Partnerships has selected SS&C Fund Services as their sole on- and off-shore administrator, replacing their in-house system and the existing independent administrator for their offshore funds. The go-live date is planned for January 1, 2010.
"It was clear we needed to work with an independent fund administrator for managing both our on-shore and off-shore fund administration needs," said David Parker, Chief Operating Officer, The Archstone Partnerships. "We carried out an extensive evaluation of our requirements, the capability of several highly regarded administrators and concluded that a switch to SS&C Fund Services was the best way to support our investor needs going forward."
"SS&C welcomes Archstone to our significant and growing list of fund of hedge funds administration clients," said Bill Stone, Chairman and Chief Executive Officer, SS&C Technologies. "Archstone is a premier fund of hedge funds manager and we are proud to have been selected."
SS&C Fund Services is a leading independent provider of independent fund administration services for 1,500 funds with US$145 billion in assets under administration and supports multiple structures including Hedge Funds, Fund of Hedge Funds and Private Equity Funds, and Managed Account Platforms.