SS&C Aligns Global Fund Administration and Servicing under the SS&C GlobeOp Brand and Appoints Bhagesh Malde to Lead Next Phase of Growth
WINDSOR, Conn., Sept. 13, 2022 /PRNewswire/ -- SS&C Technologies Holdings, Inc. (Nasdaq: SSNC) today announced that Bhagesh Malde will lead its newly combined global fund administration and servicing business. The new group will continue to operate as SS&C GlobeOp and brings together SS&C's hedge fund administration, private markets administration, middle office, and insurance global servicing capabilities. Key services also include middle- and back-office outsourcing and loan servicing. Bhagesh in this role will report to Rahul Kanwar, President and COO.
"As the alternative investment landscape continues to expand, demand has grown for innovative technology solutions to accommodate complex, hybrid fund structures," said Bill Stone, Chairman and CEO. "Bhagesh has led impressive growth in our private markets business and has seen first-hand the need for more comprehensive services across multiple asset and fund types. We look forward to seeing him take our combined service offering to the next level."
AUM in the global alternatives industry is expected to nearly double to $23.21 trillion by 2026. A bullish new report from Preqin predicts the growth will be fueled in large part by private equity. SS&C GlobeOp is the largest alternatives fund administrator with more than USD2.23 trillion in assets under administration.
"We see convergence in the market as insurers expand their investment portfolios into alternatives, while equity-focused hedge and private market funds seek out private lending opportunities. At SS&C, we have the technology and extensive expertise to deliver comprehensive solutions to complex market needs," said Bhagesh Malde. "By bringing together our expertise across different fund, investor and asset types, we can deliver to our clients a seamless servicing experience and help them to meet their growth goals."
The new SS&C GlobeOp group will combine SS&C GlobeOp's administration expertise in hedge funds, private markets and real assets with extensive global loan servicing capabilities and insurance outsourcing services and software. An international team of more than 7,000 will provide coverage across North America, EMEA, APAC, and Australasia.
Bhagesh Malde has been leading SS&C GlobeOp Private Markets since 2017. Before joining SS&C, he was Senior Managing Director and global head of the Private Equity and Real Estate business at State Street and Managing Director and global head of Hedge Fund Services at J.P. Morgan.
SS&C is a global provider of services and software for the financial services and healthcare industries. Founded in 1986, SS&C is headquartered in Windsor, Connecticut, and has offices around the world. Some 20,000 financial services and healthcare organizations, from the world's largest companies to small and mid-market firms, rely on SS&C for expertise, scale and technology.
Additional information about SS&C (NASDAQ:SSNC) is available at www.ssctech.com.
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SOURCE SS&C