Houston-based asset management firm Salient Partners, which oversees about $12 billion across both traditional and alternative investments, has selected SS&C Technologies to run its outsourced middle-office and accounting processes.
They will leverage SS&C's Geneva platform, which was brought on after the Connecticut-based vendor's purchase of Advent last year. Salient used Geneva previously, along with Advent's APX solution for shadow accounting and operations.
Salient will also use GoTrade+, SS&C's middle-office outsourcing platform. Additionally, it will use SS&C to help with regulatory reporting requirements.
According to a release, "Salient is amongst the first SS&C Advent clients to realize the combined benefits of SS&C's acquisition of Advent." In 2015, Salient bought Forward Management and the two entities had "separate instances of APX." By migrating to combined suite of solutions, the asset manager will seek to achieve operational efficiencies.
"We have a long-standing history working with both SS&C and Advent, so we are familiar with their capabilities," said Rob Naka, chief operating officer of Salient, in a statement. "We believe that the flexibility of this outsourced deployment and servicing model will move us away from a fixed cost model to a variable cost model for our operations."
Salient will also implement SS&C's regulatory solutions for Form PF as well as the CFTC and NFA's CPO-PQR requirements, according to the release.
Anthony and James look at developments pertaining to the Consolidated Audit Trail and wonder if big-tech companies could challenge traditional asset managers.Subscribe to Weekly Wrap emails
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