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SS&C Technologies to buy CACEIS’ North American fund administration business

BBR Staff Writer Published 13 March 2018

SS&C Technologies has agreed to acquire North American fund administration business from CACEIS for an undisclosed sum.

Under the deal, SS&C will acquire CACEIS North America, which has 65 employees and more than $15.8bn in investment fund assets.

CACEIS, an asset servicing banking group of Crédit Agricole, provides a range of services, including execution, clearing, depositary and custody, fund administration, middle office outsourcing, forex, securities lending, fund distribution support and issuer services.

The company offers access to a range of financial instruments, including equities, derivatives, Forex and securities lending.

CACEIS also provides clearing and settlement, custody and outsourcing solutions for corporate and investment banks and brokers.

With assets under custody of $3.2 trillion and assets under administration of $ 2.1 trillion, CACEIS manages offices in Europe and Asia, in addition to North America.

Subject to customary closing conditions, the deal is expected to complete in the first quarter of this year.

SS&C Technologies chairman and CEO Bill Stone said: “We welcome the clients and skilled professionals of CACEIS North America. This acquisition further enhances the depth of our teams and our servicing capability in the Toronto and New York markets.”

CACEIS CEO Jean-Francois Abadie said: “We believe this move is very positive for the clients and our team, who will now have greater opportunities working with the leader in North American fund administration.”

Based in Windsor of Connecticut, SS&C offers investment and financial software-enabled services and software for the global financial services industry.

In January this year, SS&C Technologies agreed to acquire technology-based information processing and servicing solutions provider DST Systems for around $5.4bn.

Based in Kansas City of Missouri, DST offers specialized technology, strategic advisory and business operations outsourcing to the financial services and healthcare industries.

DST provides asset management solutions, banking solutions, business process solutions, digital consumer solutions, as well as investor, advisor and fund solutions.


Image: SS&C Technologies to acquire North American fund administration business from CACEIS. Photo: courtesy of PinkBlue / FreeDigitalPhotos.net.