SS&C Expands Fund Administration Business in UAE with Abu Dhabi Office Launch
The world's leading fund administrator obtains regulatory approval and strengthens its presence in the Middle East
WINDSOR, Conn., March 27, 2024 /PRNewswire/ -- SS&C Technologies Holdings, Inc. (Nasdaq: SSNC) today announced an expansion of its global footprint by opening a new office in Abu Dhabi, United Arab Emirates. The Financial Services Regulatory Authority (FSRA) has granted SS&C full approval to deliver fund administration services within the prestigious Abu Dhabi Global Market (ADGM).
The newly established office in the Al Maqam Tower within the heart of the ADGM will enable SS&C to offer end-to-end hands-on fund administration services to clients, further solidifying its financial technology and services leader position.
The fund administration offering in ADGM completes SS&C's full range of services to alternative fund managers in the Middle East. SS&C has a robust track record of serving nearly 850 financial institutions and corporate clients in the region, with 140 clients leveraging its cutting-edge fund administration technology. With the regulatory license to operate in ADGM, SS&C is poised to enhance its offerings with dedicated local experts who will benefit from the full scope of the firm's global expertise.
Katarzyna Lupa-Nowicka (Head of Private Markets Operations, Middle East) and David Forrester (Head of Hedge Operations, Middle East) will lead the new office in Abu Dhabi.
"We are excited to cement our presence in the growing Abu Dhabi Global Market with the new operating license and on-the-ground presence," said Bill Stone, Chairman and CEO. "With more than $2 trillion in assets under administration, SS&C GlobeOp is the leading alternatives fund administrator in the world. We pride ourselves on upholding world-class standards in our technology and service offerings, paired with deep knowledge of local markets and regulations. We look forward to bringing local and global managers looking to invest in Abu Dhabi's falcon economy flexible, tailored solutions to support their growth."
Arvind Ramamurthy, Chief of Market Development at ADGM, said, "We congratulate SS&C on the inauguration of their office within ADGM, showcasing their steadfast dedication to Abu Dhabi. SS&C's establishment underscores the burgeoning prospects for financial entities, fund managers, and alternative investment firms in the region, affirming Abu Dhabi's appeal as the preferred hub for such companies. With ADGM's robust regulatory framework and abundant opportunities within its international financial center, Abu Dhabi stands resolute as the destination for distinguished companies seeking growth and excellence."
According to the ADGM FSRA, fund managers based in Abu Dhabi have seen more than 52% growth in assets under management at the end of Q3 2023 compared to the same period the year before1, with more than 100 managers operating 128 leading funds. SS&C already services some of the leading funds in the United Arab Emirates.
Learn more about Launching a Fund in ADGM and how SS&C can support you here.
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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SOURCE SS&C
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