SS&C Expands Fund Administration Business in India with GIFT City Office
WINDSOR, Conn., June 12, 2024 /PRNewswire/ -- SS&C Technologies Holdings, Inc. (Nasdaq: SSNC) is expanding its global footprint with a new office in India's Gujarat International Finance Tec-City (GIFT City). The International Financial Services Centres Authority has licensed SS&C GlobeOp to provide fund administration and compliance services to alternative investment funds (AIFs) and other funds domiciled in the economic opportunity zone.
Kedaara Capital and Multiples Alternate Asset Management are among SS&C's clients with AIFs in GIFT City, with more in the pipeline.
"There is tremendous opportunity in GIFT City, and we are excited to be part of it," said a representative from Multiples Alternate Asset Management.
"SS&C's experience as the world's leading alternative funds administrator makes the firm a great partner to help support us as we grow. We look forward to working with SS&C's team on the ground to support our daily operations," said a representative for Kedaara Capital.
The fund administration offering in GIFT City complements SS&C's extensive fund administration business across India. SS&C first expanded into the country in 2003. Among Indian fund administration clients, SS&C services more than $19 billion in assets under administration. SS&C has 12 offices in India and employs 7,500 staffers servicing clients across fund services, transfer agency and brokerage. Arun Baldwa, Senior Director, will lead the new office in GIFT City.
"We are excited to grow our presence in India further with the new GIFT City operating license and on-the-ground presence," said Bhagesh Malde, Head of SS&C GlobeOp. "As the world's leading alternatives fund administrator with more than $2 trillion in assets under administration, we have experience handling all operational needs for various intricate fund structures across domiciles and regulatory and tax regimes. An on-the-ground presence in GIFT City further cements our deep commitment to India. We look forward to working even closer with our clients as they set up funds in this exciting new epicenter of global finance and IT."
The fund management industry has been growing rapidly in GIFT City, with many domestic and foreign firms taking advantage of the benefits. More than 80 fund managers with commitments of more than USD30 billion have set up in the economic opportunity zone in the last 3 years, according to IFSCA.
About SS&C Technologies
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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