SS&C Technologies has been chosen as the fund administrator for the $1.2 billion Bluerock Total Income + Real Estate fund, one of the fastest growing funds in the US.
Through the recently acquired ALPS, SS&C will provide administration, fund accounting, distribution, compliance and transfer agency services for the fund.
“After months of due diligence to select a new provider to help scale the fund to the next level, we are thrilled to partner with ALPS to leverage their market expertise and cutting-edge services in a manner that best serves our investors,” said Paul Dunn, executive vice president, Bluerock Capital Markets.
Bluerock Capital Markets, the dedicated broker-dealer for Bluerock Real Estate, recently announced reported sales of the Total Income + Real Estate Fund of over $56 million in August, a 15% rise from its previous record capital raise it achieved in May.
Bluerock stated the selection of ALPS was based on the its “leadership in the interval fund market,” as well as their “deep understanding of the intricacies specific to an interval fund product’s quarterly tender offer process and daily security processing and valuation.”
SS&C acquired ALPS earlier this year as part of its $5.4 billion deal to takeover DST Systems.