SS&C Technologies has acquired Gravity Financial, a Connecticut-based full-service fund administrator, in order to build its presence in the alternative fund services industry. The transaction adds 40 fund services customers and 10 staff.
“This acquisition expands our fund services capabilities with a talented group of professionals,” said Bill Stone, chairman and chief executive officer of SS&C Technologies.
“The acquisition is well-aligned to our overall corporate strategy and will enable us to add further value to clients in the Northeast."
The business will operate under the name SS&C GlobeOp and will be led by the founding partner of Gravity Financial, Kirby Richards, CPA, and Paul Timmins, CPA, who have joined SS&C GlobeOp as part of the transaction.
“SS&C's financial strength, combined with its fund services and innovative solutions presents tremendous value to our clients," said Kirby Richards, CPA. "We are excited about joining the exceptional team at SS&C and further building our business.”
