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Asset Servicing

SS&C Technologies acquires CommonWealth Fund Services

SS&C Technologies Holdings acquired Canadian fund administrator CommonWealth Fund Services, SS&C announced in a news release.

Terms of the deal were not disclosed.

CommonWealth services $8 billion in assets administered for hedge funds, private equity and real estate.

The acquisition is the latest for SS&C, a software developer and third-party administration provider. In December, SS&C announced it would acquire private equity fund administrator Conifer Financial Services, which had $115 billion in assets under administration. SS&C has more than $1 trillion in AUA, according to its website.

Officials at SS&C were not immediately available to provide further details.