SS&C Technologies Holdings, a global provider of financial services software and software-enabled services, says it has acquired Conifer Financial Services, LLC, an independent asset services firm for an aggregate purchase price of US$88.5 million, subject to customary adjustments.
Conifer has 200 clients worldwide representing $110 billion of combined assets under administration (AUA). Headquartered in San Francisco and with offices in New York, Singapore and Nova Scotia, Conifer services pensions, endowments, foundations, family offices, traditional asset managers, private equity and hedge funds.
SS&C says the acquisition strengthens its market position on the West Coast and provides a wider array of services to a growing customer base in foundations and endowments, pensions and outsourced CIO portfolios.
Said Bill Stone, chairman and chief executive officer, SS&C Technologies: "Conifer shares SS&C’s vision on delivering high quality services to solve real customer problems. We look forward to leveraging our technology and services to immediately deliver greater value to existing and new clients."
“Joining with SS&C will allow us to accelerate our growth plans and pace of innovation,” said Jack McDonald, Conifer’s chief executive officer.