USAA Real Estate Partners with SS&C to Manage Fund Administration
SS&C Technologies has entered into an outsourced administration agreement with USAA Real Estate to manage fund and property accounting. Under this arrangement, around 60 employees from USAA's team will transition to SS&C GlobeOp's group in San Antonio and Dallas. This partnership aims to enhance best-in-class analysis and reporting for USAA Real Estate's assets while allowing its team to focus on core competencies. SS&C administers over 2,640 funds and is committed to supporting growth initiatives within private markets.
- SS&C secures a partnership with USAA Real Estate, enhancing its service offerings.
- Approximately 60 employees from USAA will transition to SS&C, strengthening workforce capabilities.
- SS&C manages over 2,640 funds, indicating strong operational expertise.
- None.
The combined team will support assets on the SS&C GlobeOp platform
WINDSOR, Conn., Jan. 10, 2023 /PRNewswire/ -- SS&C Technologies Holdings, Inc. (Nasdaq: SSNC) today announced it has entered into an outsourced administration arrangement with USAA Real Estate, an industry leader in acquiring, developing, financing and managing the highest quality real estate assets in North America and Europe.
As a leading real estate investment manager, we are focused on providing best-in-class analysis, reporting and internal controls to our clients and we concluded that SS&C will best enable us to serve our investors as we move forward," said Tana Gardner, chief financial officer for USAA Real Estate. "We are also pleased that the arrangement supports our transitioning team members and gives them the opportunity to expand their careers as we focus on our core competencies."
USAA Real Estate will outsource fund accounting and reporting functions as well as property accounting of operating and under-development investments to SS&C. Further, USAA Real Estate will transition around 60 employees to SS&C GlobeOp's group in both San Antonio and Dallas.
"As the world's largest alternatives administrator, we leverage a deep and broad bench of experts to mitigate transition risk and support growth initiatives across private markets. We look forward to working closely with our new colleagues to deliver the flexible solutions to support USAA Real Estate's unique growth path," said Bhagesh Malde, General Manager, SS&C GlobeOp.
More than 500+ private markets entities with 2,640 funds under administration rely on SS&C for their private markets administration needs.
"We are excited to welcome the talented USAA Real Estate team. SS&C is focused on partnering with firms like USAA Real Estate to help transform their operating model and provide scale," said Eamonn Greaves, Global Co-Head of Sales, SS&C.
Along with its affiliate companies, USAA Real Estate invests across the risk spectrum for a global client base, managing over
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 20,000 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.
Follow SS&C on Twitter, LinkedIn and Facebook.
View original content to download multimedia:https://www.prnewswire.com/news-releases/usaa-real-estate-partners-with-ssc-to-manage-fund-administration-301717561.html
SOURCE SS&C
FAQ
What partnership did SSNC announce on January 10, 2023?
How many employees will transition to SSNC from USAA Real Estate?
What services will SSNC provide to USAA Real Estate?
What is the significance of the SSNC and USAA Real Estate partnership?
