USAA Real Estate Partners with SS&C to Manage Fund Administration
The combined team will support assets on the SS&C GlobeOp platform WINDSOR, Conn., Jan. 10, 2023 /PRNewswire/ -- SS&C Technologies Holdings, Inc. today announced it has entered... | January 10, 2023
The combined team will support assets on the SS&C GlobeOp platform
WINDSOR, Conn., Jan. 10, 2023 /PRNewswire/ -- SS&C Technologies Holdings, Inc. (Nasdaq: SSNC) today announced it has entered into an outsourced administration arrangement with USAA Real Estate, an industry leader in acquiring, developing, financing and managing the highest quality real estate assets in North America and Europe.
As a leading real estate investment manager, we are focused on providing best-in-class analysis, reporting and internal controls to our clients and we concluded that SS&C will best enable us to serve our investors as we move forward," said Tana Gardner, chief financial officer for USAA Real Estate. "We are also pleased that the arrangement supports our transitioning team members and gives them the opportunity to expand their careers as we focus on our core competencies."
USAA Real Estate will outsource fund accounting and reporting functions as well as property accounting of operating and under-development investments to SS&C. Further, USAA Real Estate will transition around 60 employees to SS&C GlobeOp's group in both San Antonio and Dallas.
"As the world's largest alternatives administrator, we leverage a deep and broad bench of experts to mitigate transition risk and support growth initiatives across private markets. We look forward to working closely with our new colleagues to deliver the flexible solutions to support USAA Real Estate's unique growth path," said Bhagesh Malde, General Manager, SS&C GlobeOp.
More than 500+ private markets entities with 2,640 funds under administration rely on SS&C for their private markets administration needs.
"We are excited to welcome the talented USAA Real Estate team. SS&C is focused on partnering with firms like USAA Real Estate to help transform their operating model and provide scale," said Eamonn Greaves, Global Co-Head of Sales, SS&C.
Along with its affiliate companies, USAA Real Estate invests across the risk spectrum for a global client base, managing over $35 billion in net assets under management within a diversified portfolio across North America and Europe. USAA Real Estate provides strategic equity and debt capital, including to capitalize on the accelerating demand for technology-driven real estate assets, to meet the critical need for housing solutions, and for other market and capital structure opportunities exhibiting compelling risk-return characteristics. For more information, visit usrealco.com.
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.
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