SS&C has been selected for fund administration services by SeaFort Capital, a Halifax, Nova Scotia-based private equity firm.
SS&C will provide full front-to-back support, including fund administration, reporting, investor and tax services to support SeaFort’s fund operations. In addition, SS&C’s InvestorVision LP Portal will be used to share fund data with limited partners.
The private equity firm launched its growth-focused buyout fund, SeaFort Capital Fund II, with a target fund size of $160 million and $110 million in initial committed capital.
The new fund will invest in Canadian lower-mid-market core industrial and business services sectors.
“We were looking for a technology provider with experience managing diverse private equity structures. SS&C has a proven track record of supporting private equity, and they understand our business and provide local support,” said Rob Normandeau, managing partner & president, SeaFort. “SS&C’s platform is adaptable, secure and supported by extensive expertise, and we are excited to leverage this partnership as our business grows.”
SS&C bolstered its private markets team in July with the appointment of Suresh Krishnamurthy as a new senior executive to lead client solutions. The fund administrator has also been racking up the mandates this year, with service agreements coming in across private equity, transfer agency and other forms of fund services.
“We are excited to support SeaFort in their mission to invest in growing Canadian businesses,” said Henry Toy, managing director, SS&C Canada. “SS&C administers $100 billion in assets in Canada. We’ve achieved this milestone by delivering top-notch customer service, innovative technology, risk controls and security to investment firms so our clients can focus on investing.”