SeaFort Capital Chooses SS&C for New Fund Launch

Rhea-AI Summary

SS&C Technologies Holdings (Nasdaq: SSNC) has been selected by SeaFort Capital, a Halifax-based private equity firm, for its fund administration services. SeaFort's new growth-focused buyout fund, SeaFort Capital Fund II, aims for a target size of $160 million with $110 million already committed. SS&C will provide comprehensive fund administration, reporting, and investor services. SeaFort's fund has notable investments from prominent Canadian families and established investors, marking a significant milestone for SS&C, which administers $100 billion in assets in Canada.

Positive

• SeaFort Capital selected SS&C for full-service fund administration, signaling trust in their technology and expertise.
• SeaFort Capital Fund II has already secured $110 million in committed capital, indicating strong investor interest.
• SS&C administers $100 billion in assets in Canada, showcasing their substantial market presence and credibility.

Negative

• None.

WINDSOR, Conn., Nov. 3, 2021 /PRNewswire/ -- SS&C Technologies Holdings, Inc. (Nasdaq: SSNC) today announced that SeaFort Capital, a Halifax, Nova Scotia-based private equity firm, has selected SS&C's full-service fund administration solution. The firm launched its growth-focused buyout fund, SeaFort Capital Fund II, with a target fund size of $160 million and $110 million in initial committed capital. The new fund will invest in Canadian lower-mid-market core industrial and business services sectors.

"We were looking for a technology provider with experience managing diverse private equity structures. SS&C has a proven track record of supporting private equity, and they understand our business and provide local support," said Rob Normandeau, Managing Partner & President. "SS&C's platform is adaptable, secure and supported by extensive expertise, and we are excited to leverage this partnership as our business grows."

SS&C will provide full front-to-back support, including fund administration, reporting, investor and tax services to support SeaFort's fund operations. In addition, SS&C's InvestorVision LP Portal will be used to share fund data with limited partners. SeaFort Capital Fund II has attracted significant investments from its founding investors, including members of the Sobey and McCain families, and several other prominent investors, including established institutional investors and successful entrepreneurs and families from across Canada.

"We are excited to support SeaFort in their mission to invest in growing Canadian businesses," said Henry Toy, Managing Director, SS&C Canada. "SS&C administers $100 billion in assets in Canada. We've achieved this milestone by delivering top-notch customer service, innovative technology, risk controls and security to investment firms so our clients can focus on investing."

About SeaFort Capital
Founded in 2012, SeaFort is a private equity firm based in Halifax, Nova Scotia. SeaFort partners with talented managers to build value by growing and improving Canadian lower-mid-market businesses. SeaFort is currently investing SeaFort Fund II. To learn more about SeaFort, please visit www.seafortcapital.com.

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 significance of SeaFort Capital choosing SSNC for its fund administration?

SeaFort Capital's selection of SS&C indicates confidence in their full-service fund administration capabilities, which may enhance SeaFort's operational efficiency.

How much capital has SeaFort Capital committed to its new fund?

SeaFort has committed $110 million to its new growth-focused buyout fund, SeaFort Capital Fund II, which targets a total of $160 million.

What sectors will SeaFort Capital Fund II invest in?

The fund focuses on Canadian lower-mid-market core industrial and business services sectors.

How does SS&C's asset administration compare in Canada?

SS&C administers $100 billion in assets in Canada, demonstrating a strong foothold in the fund administration market.

Who are some of the investors in SeaFort Capital Fund II?

The fund has attracted investments from notable families such as the Sobey and McCain families, along with other prominent Canadian investors.