Diversified Trust Selects SS&C to Administer Private Equity Fund-of-Funds

Rhea-AI Summary

On May 24, 2021, SS&C Technologies (Nasdaq: SSNC) announced its selection as fund administrator by Diversified Trust, a wealth management firm managing $7.5 billion in assets. SS&C will oversee private equity administration, reporting, tax services, and compliance for Diversified Trust's private equity fund of funds platform. Utilizing SS&C's technology, the partnership aims to streamline processes and enhance client services. Diversified Trust chose SS&C for its integrated solutions and expertise in fund-of-fund structures, focusing on improved accounting and reporting.

Positive

• New partnership with Diversified Trust expands SS&C's service offerings in private equity administration.
• SS&C's technology integration aims to streamline fund administration processes for retail investors.
• Diversified Trust's choice underscores SS&C's expertise in fund-of-fund structures.

Negative

• None.

WINDSOR, Conn., May 24, 2021 /PRNewswire/ -- SS&C Technologies Holdings, Inc. (Nasdaq: SSNC) today announced that Diversified Trust, a leading wealth management firm with $7.5 billion in assets under management, has selected SS&C as fund administrator for its private equity fund of funds platform.

SS&C will provide private equity administration, portfolio look-through reporting, tax services, treasury support services and investor AML/KYC compliance. Diversified Trust also uses SS&C Black Diamond within its wealth management business and SS&C Intralinks for its investor portal. SS&C's private funds administration solution enhances consistency across platforms and a streamlined process for tracking investors and interested party information ultimately simplifying private equity reporting for its retail customers.

"Diversified Trust sought a partner with expertise in fund-of-fund structures with integrated technology solutions including document management and client reporting and offered visibility into the data," said Doug Turner, Principal and Director of Operations for Diversified Trust. "SS&C's comprehensive offering vastly improves fund accounting and reporting exceeding our clients' information and communications requirements on a single easy-to-use platform, so we can focus on helping our clients make decisions."

"We are very pleased to expand SS&C's relationship with Diversified Trust to now include the administration of their private equity fund of funds focused on retailed investors," said Joe Patellaro, Managing Director, SS&C Private Equity Fund Services. "Our extensive experience in servicing the private equity segment, fund of funds and the retail investor space in particular has allowed us to develop a service model that is specifically responsive to this growing segment of the private equity market."

About Diversified Trust Company

Diversified Trust is an employee-owned comprehensive wealth management firm based in the Southeast with over $7.5 billion of client assets under management. Our clients include individuals, multi-generational families, foundations, endowments, retirement plans, and family-owned businesses.

About SS&C Technologies

SS&C is a global provider of services and software for the financial services and healthcare industries. Founded in 1986, SS&C is headquartered in Windsor, Connecticut, and has offices around the world. Some 18,000 financial services and healthcare organizations, from the world's largest companies to small and mid-market firms, rely on SS&C for expertise, scale and technology.

Additional information about SS&C (Nasdaq: SSNC) is available at www.ssctech.com.

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SOURCE SS&C

FAQ

What is the recent announcement by SSNC on May 24, 2021?

SSNC announced its selection by Diversified Trust as fund administrator for its private equity fund of funds.

What services will SSNC provide to Diversified Trust?

SSNC will provide private equity administration, portfolio reporting, tax services, treasury support, and investor compliance services.

How much assets does Diversified Trust manage?

Diversified Trust manages $7.5 billion in assets.

Why did Diversified Trust choose SSNC for administration?

Diversified Trust valued SSNC's expertise in fund-of-fund structures and integrated technology solutions.

What is the significance of SSNC's partnership with Diversified Trust?

This partnership is significant as it expands SSNC's role in private equity administration and enhances its client service capabilities.