Archstone appoints SS&C Fund Services for fund administration
SS&C Technologies, a provider of financial services software and software-enabled services, has been appointed by The Archstone Partnerships to handle the fund administration and accounting for its funds of hedge funds.
Archstone has selected SS&C Fund Services as their sole onshore and offshore administrator, replacing their in-house system and the existing independent administrator for their offshore funds.
The go-live date is planned for 1 January 2010.
“It was clear we needed to work with an independent fund administrator for managing both our on-shore and off-shore fund administration needs,” says David Parker (pictured), chief operating officer, The Archstone Partnerships. “We carried out an extensive evaluation of our requirements, the capability of several highly regarded administrators and concluded that a switch to SS&C Fund Services was the best way to support our investor needs going forward.”
“SS&C welcomes Archstone to our significant and growing list of fund of hedge funds administration clients,” adds Bill Stone, chairman and chief executive officer, SS&C Technologies. “Archstone is a premier fund of hedge funds manager and we are proud to have been selected.”
Archstone manages a family of multi-strategy fund of hedge funds, allocating capital for each fund across a diversified group of hedge fund strategies and managers with the objective of producing absolute returns. The firm was established in 1991 and manages over USD4.7bn in assets.
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