SS&C Creates New Servicing Group for Hybrid Alternative Funds

With the growing convergence of alternative fund structures, SS&C GlobeOp has created a new group to support fund administration, accounting and reporting for hybrid fund structures.

The convergence sometimes involves hedge funds taking on investments such as bank loans held in a private equity structure, as well as private investments as part of a hedge fund portfolio strategy. In other cases, a fund-of-fund may invest in private equity. Plus, some large asset management firms may have both hedge and private equity style funds, so it’s easier to have common servicing systems.

While SS&C has already been servicing these types of funds, the new group will centralize SS&C’s staff for this segment and allow the firm to better target these structures. The group will be led by George Schnell, vice president at SS&C.

“Formalizing SS&C GlobeOp’s organization which delivers a myriad of products and services aimed at complex, hybrid structures will allow us to better serve this universe of funds,” says Renee Mooney, senior vice president, SS&C GlobeOp.