Multi-strategy operator Boothbay Fund Management has selected SS&C Technologies as its fund administrator.
The New York-based $2.5bn firm, which manages 140 separately managed accounts, chose SS&C to help during its next phase of growth.
“As our business has grown, we’ve sought to streamline operations, consolidate processes and accelerate reporting,” said Boothbay COO Mike Weaver.
“SS&C’s platform will enable us to increasingly automate derivatives processing for faster reporting and seamless integration of data into downstream systems.”
The move consolidates the number of vendors Boothbay works with, boosting efficiency and reducing operational risk, he added.
His firm dynamically optimises portfolio exposures based on real-time risk and return analytics. Boothbay also uses SS&C Battea for processing and recovery of settlement claims in securities class-action lawsuits.
“We are pleased to work with Boothbay Fund Management as they continue to expand their innovative SMA platform,” said Jason Costa, SS&C GlobeOp’s head of hedge fund services, Americas.
“Multi-strategy vehicles are attracting a lot of investor attention. These funds need efficiency, automation and speed in their operations.”