Acadian Asset Management has recently transitioned its long/short portfolios to SS&C GlobeOp.
Acadian has been leveraging SS&C GlobeOp as its fund administrator for long-short strategies since Acadian launched its Diversified Alpha equity strategy in 2016.
SS&C provides a comprehensive range of middle and back office services to Acadian for its long/short business.
Acadian cited a number of factors that were critical in its decision, including SS&C’s fund administration leadership as well as extensive middle office expertise. Most notably for Acadian were SS&C GlobeOp’s capabilities around margin finance management, cash and collateral management, and tri-party reconciliation. As part of the agreement, SS&C will provide Acadian its long/short fund administration services with Syncova, an end-to-end margin management and financing software.
“The appointment followed a detailed search and due diligence process across the major fund administrators in the market,” says Tara Norton, senior vice president, director, hedge fund & alternative asset operations, Acadian. “SS&C was able to clearly demonstrate their ability to service large, complex, long-short fund managers across a broad range of asset classes and they were unrivalled in terms of technology offering. Above all, we selected SS&C because of their commitment to client service and integrity.”
Under the agreement, SS&C provides comprehensive middle office and administration services across Acadian’s long/short operations. Services include trade capture and lifecycle processing, collateral management, fund accounting, and financial reporting.
“Partners such as Acadian are very important to SS&C. We look forward to continuing to support them as they work to deliver on their growth strategy,” says Bill Stone (pictured), chairman and chief executive officer, SS&C Technologies. “Our services are designed to help Asset Managers such as Acadian achieve high levels of service and transparency. This relationship demonstrates the range of our platform and expertise, which can support the full lifecycle of virtually any strategy employed by alternative funds today.”
