Alternative asset manager Wexford Capital is extending its fund administration relationship with service vendor SS&C GlobeOp, which oversees the firm’s $4 billion of private equity and hedge fund assets, officials say.
Wexford Capital, headquartered in Greenwich, Conn., will use SS&C GlobeOp for middle- and back-office, regulatory reporting and investor solutions, officials say.
SS&C GlobeOp previously delivered various back-office services to support Wexford’s hedge funds. The terms of the revised agreement will allow Wexford to use SS&C’s capabilities to act as an outsourced operational, middle- and back-office provider and fund administrator, officials say.
SS&C will hire a number of Wexford employees to augment the team servicing the firm.
“We conducted an extensive due diligence process over several months and were impressed with the commitment of SS&C to the business and their technology platform and expertise,” says Joseph Jacobs, president of Wexford Capital, in a prepared statement. “We believe that the extension of our strategic partnership will bring us greater operational leverage and scale.”
Formed in 1994, Wexford manages three hedge funds with over $2 billion in AUM: the opportunistic/global macro Wexford Spectrum Fund, the multi-strategy, credit-oriented Wexford Credit Opportunities Fund and the energy, natural resources and industrials focused Wexford Catalyst Fund.
Wexford also oversees a series of private equity funds and has invested over $5 billion in private equity investments.
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