SS&C has signed a deal to provide fund accounting and reporting services to USAA Real Estate, which manages over $35 billion in net assets under management.
“As a leading real estate investment manager, we are focused on providing best-in-class analysis, reporting and internal controls to our clients and we concluded that SS&C will best enable us to serve our investors as we move forward,” said Tana Gardner, chief financial officer for USAA Real Estate. “We are also pleased that the arrangement supports our transitioning team members and gives them the opportunity to expand their careers as we focus on our core competencies.”
As part of the deal, USAA Real Estate will transition around 60 employees to SS&C GlobeOp’s offices in both San Antonio and Dallas.
“We are excited to welcome the talented USAA Real Estate team. SS&C is focused on partnering with firms like USAA Real Estate to help transform their operating model and provide scale,” added Eamonn Greaves, global co-head of sales at SS&C.
In December, SS&C announced the acquisition of Complete Financial Ops (CFO) Fund Services, a Colorado-based fund administration firm. The acquisition adds 25 clients and eight employees to SS&C, which now has more than $2 trillion in alternative assets under administration.