New York (HedgeCo.Net) – As the financial industry continues to witness the convergence of the traditionally separate asset classes of hedge funds and private equity style closed-end funds, hedge fund software provider SS&C Technologies Holdings, Inc., has created a new group to support fund administration, accounting and reporting for hybrid fund structures.

“More and more funds include fixed income assets such as bank loans and distressed debt held in a private equity structure with a waterfall mechanism and capital calls.” SS&C GlobeOp said.

Other examples include private investments as part of a hedge fund portfolio strategy or a fund-of-fund investing in private equity investments, and trading in securities through managed accounts. Also large asset management firms may have both hedge and private equity style funds and seek common systems to manage reporting formats, investor information and workflow.

Led by George Schnell, Vice President, SS&C’s hybrid fund services group will be responsible for setting up automated workflows, providing expertise in structuring and consulting on such funds. The team will also facilitate the onboarding of those funds.

Alex Akesson
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