SS&C Technologies has completed the acquisition of Canadian-based fund administrator CommonWealth Fund Services.
The takeover of CommonWealth, which holds over $8 billion in assets under administration, expands SS&C’s footprint in the Canadian market.
“The acquisition strengthens our presence in the Canadian fund services market and furthers our strategy to expand our international business,” said Bill Stone, chairman and CEO, SS&C Technologies.
The Canadian fund administrator has double in assets under administration over the past two years, servicing hedge funds, private equity funds, real estate funds, fund of funds and family offices.
SS&C Technologies has cited acquisitions as its strategy in expanding its fund administration business. Last year it completed the integration of both Citi and Wells Fargo’s hedge fund administration businesses.