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SS&C Technologies Inc. (NASDAQ: SSNC), founded in 1986, is a global provider of software products and software-enabled services that focus primarily on the financial services and healthcare sectors. Headquartered in Windsor, Connecticut, SS&C operates worldwide, offering solutions that encompass account administration, asset valuation, compliance processing, data gathering, investment accounting, performance measurement, and regulatory reporting.
The company caters to a diverse clientele, including asset managers, banks, financial advisors, insurance companies, real estate investment trusts (REITs), and alternative investment firms. SS&C's offerings are tailored to meet the specific needs of each industry, ensuring operational excellence and compliance with regulatory requirements. By leveraging state-of-the-art technology, SS&C helps its clients manage and account for investments totaling over $44 trillion.
SS&C's product suite includes SS&C GlobeOp, which provides fund administration services to alternative and traditional asset managers, and Intralinks, a leading provider of Virtual Data Room solutions. The acquisition of DST Systems in 2018 expanded SS&C's footprint into the healthcare sector, adding pharmacy health management solutions and medical claim administration services to its portfolio. More recently, in 2022, SS&C acquired Blue Prism, further enhancing its intelligent automation capabilities.
SS&C's latest strategic moves include a partnership with Regnology to deliver an integrated risk and regulatory reporting solution designed to streamline compliance and analytical insights. This collaboration aims to help financial institutions adapt swiftly to regulatory changes, enhancing their operational efficiency.
Financially, SS&C has demonstrated robust performance, with record adjusted revenue and consolidated EBITDA for the full year 2023. The company generated over $1.2 billion in operating cash flow and maintains a strong cash position with a net leverage ratio of 3.05 times consolidated EBITDA. Despite global economic uncertainties, SS&C continues to see opportunities in both the financial services and healthcare markets, driven by strategic acquisitions and partnerships.
SS&C is also enhancing its global reach, recently receiving regulatory approval to expand its fund administration services in the Abu Dhabi Global Market. This move reinforces SS&C's commitment to providing comprehensive financial technology solutions across different regions and markets.
SS&C Technologies (Nasdaq: SSNC) announced the appointment of Suresh Krishnamurthy as the new head of client solutions for SS&C GlobeOp Private Markets. This role reinforces SS&C's commitment to enhancing its services in private equity and real assets fund administration. Suresh brings a wealth of experience from his previous roles at BNY Mellon and State Street, aiming to leverage innovative technology solutions for clients. Bhagesh Malde, global head of SS&C GlobeOp, expressed enthusiasm about Suresh's expertise and its impact on improving client processes.
SS&C Technologies Holdings has been selected as the administrator for Claymore Capital Partners Fund I, a new private equity fund-of-funds. Claymore aims to provide cost-efficient access to a diversified portfolio through SS&C's comprehensive administration services, including fund accounting and investor services. Rob Neu, Managing Partner at Claymore, emphasized the need for a technology partner with expertise in private equity, while SS&C expressed excitement over supporting this first-time fund launch. This collaboration is expected to enhance growth opportunities for Claymore's investment strategy.
SS&C Technologies Holdings (Nasdaq: SSNC) announced organizational restructuring to enhance growth in financial services. The changes aim to align teams and drive technology innovation and strategic product development. Key divisions include SS&C Global Investor and Distribution Solutions, SS&C ALPS Advisors, and SS&C Retirement Solutions. The restructuring will emphasize digital transformation and improve customer experience. Notably, Michael Sleightholme, former head of DST's financial services, will depart the firm. The company continues to invest in advanced technology and services.
SS&C Technologies Holdings announced that the SS&C GlobeOp Forward Redemption Indicator for June 2021 measures 2.68%, an increase from 2.46% in May. This indicator shows a 37% decrease in redemption notices from the previous year, marking the twelfth consecutive month of year-over-year declines. This value is the lowest for June since 2006. With the indicator reflecting investor confidence, the next report will be released on July 22, 2021.
SS&C Technologies Holdings (Nasdaq: SSNC) announced on June 17, 2021, that it will not exercise its matching rights for Mainstream Group Holdings Limited's shares due to a competing offer. The bid for Mainstream rose from AUS$1.20 to AUS$2.80, representing a 133% increase. SS&C expressed congratulations to Mainstream's board for maximizing shareholder value. Citi served as the financial adviser, and Gilbert + Tobin provided legal advice.
SS&C Technologies (Nasdaq: SSNC), a leader in software solutions for financial services and healthcare, announced that Rahul Kanwar, President and COO, will present at the RBC Capital Markets Financial Technology Conference on June 17, 2021, at 12:40 pm ET. A webcast of the event will be available on SS&C's investor relations website. Founded in 1986 and headquartered in Windsor, Connecticut, SS&C serves over 18,000 organizations globally.
SS&C Technologies (Nasdaq: SSNC) announced RiverNorth Capital Management has selected its front-to-back solution for managing a $5.3 billion portfolio. This partnership will streamline operations and reporting for RiverNorth's registered funds, private funds, and institutional portfolios. The comprehensive solution includes order management, trade execution, and reconciled data access, enhancing transparency. RiverNorth aims to centralize its operations on SS&C's platform, allowing it to focus on growth while SS&C manages operational tasks.
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