SS&C has signed a definitive agreement to acquire the managed funds administration business from Iress, an Australian financial services technology company. The MFA business is one of Australia’s largest third-party fund registries, with around AUD900bn (USD576bn) in managed assets across over 1,400 funds, four custodians and 69 fund managers. The deal is expected to close in Q3 2023. Around 150 team members are expected to join SS&C Global Investor & Distribution Solutions, which focuses on transfer, unit and platform agency and administration. They will report to Euan McLeod, head of transfer agency, APAC.
