RiverNorth Capital Management extends agreement with SS&C for front-to-back services.
Tag: SS&C Technologies
The new platform is the latest innovation from SS&C Technologies after it launched GIDS, its new-look transfer agency and investor services platform last year.
Mandate win follows a string of fund services agreements SS&C has won in recent months as it hit the $2trn in assets under administration mark.
The US insurance company giant has adopted the SS&C SmartSource platform to manage the middle- and back-office for three of its insurance companies.
Mainstream has notified SS&C of the superior proposal, and has given the group until Thursday 6 May to match or offer more.
The rise in AuA follows a year after assets in alternatives investments reached an all-time high of $7.4 trillion in 2020.
The announcement follows the conclusion of Scheme Implementation Deed with Vistra, which opted not to match SS&C’s offer.
Mainstream had previously entered a deal with Vistra as part of a $170 million deal, however it was granted a month to seek competing offers.
The new group will be led by a former disruptive technology expert from PwC, as investment firms look to accelerate their digital transformation programmes.
Private equity services veteran of SS&C and Citi takes on new role in London.