(updated with correction)
SS&C Technologies Holdings on Thursday announced it had acquired asset servicing firm Conifer Financial Services from Carlyle Group and Conifer management for $89 million, said Rahul Kanwar, SS&C senior vice president and managing director, alternative assets.
Conifer's management, including President and CEO Jack McDonald, will continue to lead the business.
The brand will be merged into SS&C over an unspecified transition period, Mr. Kanwar said.
Conifer has $110 billion in assets under administration for pension funds, endowments, foundations, money managers and alternative investment firms, according to an SS&C news release.
Carlyle Group had acquired a majority stake in Conifer in mid-2015. Details of its stake in Conifer could not be learned.
The Conifer acquisition is the latest involving an asset servicing firm for SS&C. In September, the firm announced it would acquire Wells Fargo Global Fund Services, and in March, it closed on the acquisition of Citigroup's alternative investor services business.
SS&C has $1.2 trillion in assets under administration.