Connecticut-based hedge fund manager, Paloma Partners, has selected SS&C Technologies for a range of fund services.
SS&C said it will deliver a customised administration and regulatory reporting solution within its fund administration, middle- and back-office services for Paloma Partners.
The hedge fund said it’s experience with SS&C Geneva and the administrator’s expertise supporting a diverse set of asset classes were deciding factors.
Under the deal, Paloma Partners will also leverage SS&C’s, tax and regulatory services, performance reporting and analytics, and end-to-end processing platform – e-Investor – to digitise the investor onboarding experience.
“SS&C enables us to consolidate our operational processes under one roof without having to rely on external third-parties or multiple hand-offs,” said Gregory Hayt, president, Paloma Partners. “SS&C’s leadership in administration across multiple asset classes and flexible smart technology makes them a superior partner.”
The mandate caps off a busy summer for SS&C in which it signed multiple new business deals across its various services.
This included a multi-year transfer agency deal with Aberdeen Standard Investments, the extension of an outsourcing relationship with US asset manager Waddell & Reed, and onboarding St James Place Wealth Management (SJP), the UK’s largest wealth manager, onto its Bluedoor registry system.
Last month, SS&C Technologies also agreed to acquire risk analytics products and services from IBM’s Algorithmics division, expanding its range of data products and providing potential new services to its fund administration unit.
“We strive to simplify our clients’ operations with purpose-built applications to automate investment workflows,” commented Ken Fullerton, managing director, SS&C GlobeOp, on the Paloma Partners deal.