Maverix Private Equity Chooses SS&C for Inaugural Fund Launch

Rhea-AI Summary

SS&C Technologies Holdings (Nasdaq: SSNC) has been appointed as the fund administrator for Maverix Private Equity's inaugural growth equity fund. Maverix will leverage SS&C GlobeOp's comprehensive private capital fund services, including accounting and reporting. The fund aims for a hard cap of USD$500M and targets investments in North American companies with high growth potential. SS&C's expertise in the finance sector positions it well to support Maverix's ambition to build a leading private equity platform in Canada.

Positive

• Appointment as fund administrator enhances SS&C's service portfolio.
• Partnership with Maverix could lead to potential revenue growth from their USD$500M fund.

Negative

• None.

WINDSOR, Conn., April 14, 2021 /PRNewswire/ -- SS&C Technologies Holdings, Inc. (Nasdaq: SSNC) today announced that Maverix Private Equity has appointed SS&C GlobeOp as fund administrator for its inaugural growth equity fund.

Maverix will use SS&C GlobeOp's full suite of private capital fund services to support the Maverix Growth Equity Fund, including its fund accounting, investor services, reporting and data analytics. SS&C's Toronto team will oversee services for the fund. Maverix was founded in early 2021 by John Ruffolo and Mark Maybank.

"We aim to build a globally-recognized, industry-leading, Canada-based private equity platform, so we want to partner with the best. SS&C is one of the world's largest private equity administrators," said John Ruffolo, Managing Partner at Maverix. "SS&C's leadership position, combined with its cutting-edge technology, risk controls, cybersecurity and premium customer service will ensure that Maverix can grow its business with speed and agility, and provide top-tier reporting to our investors."

"We are pleased to partner with Maverix as they invest in Canada's growing industries," said Henry Toy, Managing Director, SS&C GlobeOp Canada. "SS&C has a long history of supporting Canada's private equity industry, and we are committed to delivering front-to-back solutions to help our customers grow."

About Maverix Private Equity

Maverix Private Equity is a Toronto-based private equity firm. It is led by an experienced and talented team with the background, network, and track record necessary to successfully execute on an investment strategy of technology-enabled growth and disruption. Maverix is currently investing out of its inaugural fund, the Maverix Growth Equity Fund I, with a USD$500M hard cap. Maverix targets North American companies with rapidly growing revenue and evidence of a profitable business model. Its target cheque size is expected to average USD$50M for meaningful minority positions in portfolio companies.  

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.

SOURCE: SS&C

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

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SOURCE SS&C

FAQ

What is the new partnership between SSNC and Maverix Private Equity?

SSNC has been appointed as the fund administrator for Maverix's inaugural growth equity fund.

What services will SSNC provide to Maverix Private Equity?

SSNC will provide a full suite of private capital fund services, including accounting, investor services, and reporting.

What is the target size of the Maverix Growth Equity Fund?

The Maverix Growth Equity Fund has a hard cap of USD$500 million.

When was Maverix Private Equity founded?

Maverix Private Equity was founded in early 2021.

What is the focus of Maverix Private Equity's investment strategy?

Maverix targets North American companies with rapidly growing revenue and a profitable business model.