Windsor-based SS&C Technologies Holdings, a financial services software and services provider, has acquired San Francisco-based Conifer Financial Services for $88.5 million.
Conifer, an independent asset services firm, has 200 clients worldwide representing $110 billion of combined assets under administration, SS&C said. Conifer services pensions, endowments, foundations, family offices, registered investment advisors, traditional asset managers, private equity and hedge funds.
The acquisition, announced late Thursday, strengthens SS&C’s market position on the West Coast and provides a wider array of services to a growing customer base in foundations and endowments, pensions, and outsourced CIO portfolios, said Bill Stone, SS&C chairman and CEO.
“Conifer shares SS&C’s vision on delivering high quality services to solve real customer problems,” said Stone. “We look forward to leveraging our technology and services to immediately deliver greater value to existing and new clients.”
Jack McDonald, Conifer’s CEO, said joining SS&C will allow Conifer to accelerate growth plans.
Senior management at Conifer will continue to lead the business, SS&C said. Other offices are in New York, Singapore and Nova Scotia.
About 10,000 financial services organizations around the world use SS&C’s products and services, managing more than $44 trillion in assets, the company said.
