SS&C Acquires Bermuda Fund Administrator Specializing In Insurance Linked Securities

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SS&C Technologies Holdings Inc. of Windsor announced Wednesday it has acquired a hedge fund administrator with offices in Bermuda and Canada.

SS&C acquired Prime Management Limited, which has $6 billion in assets under management, for an undisclosed price. The move strengthens SS&C’s position in the administration of insurance-linked securities (ILS) and the institutional funds that invest in them, the company said.

Administration includes accounting, governance, compliance and other support services to investment funds.

“Investors are looking to diversify and are attracted to ILS,” SS&C Chairman and CEO Bill Stone said in a prepared release. “The knowledge of the Prime team, attention to customer service, and the addition of dedicated ILS expertise is a strategic fit for SS&C’s fund administration services.”

Prime management Limited has, since 1997, has provided administration services to offshore hedge funds.

About Matthew Sturdevant

Full-time staff journalist at The Hartford Courant and magazine freelancer with a master's degree in writing from Dartmouth. My work has appeared in The Los Angeles Times, The Chicago Tribune, Taiwan News, The Baltimore Sun and many other news sources. My blog has been referenced by Politico.com, the Kaiser Family Foundation, the Georgetown Law Library and a number of organizations in healthcare and business. Sturdevant’s blog is "a well-written wealth of ideas," said The Donald W. Reynolds National Center for Business Journalism, (businessjournalism.org, May 18, 2011). I have experience writing for newspapers, magazines, Web sites and blogs as well as shooting and editing video. I made regular appearances on news-talk radio and on the NBC affiliate station in Corpus Christi, Texas. I made occasional appearances on the Fox affiliate in Connecticut promoting Hartford Courant articles.

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