The multi-strategy alternative investment advisor will be using SS&C GlobeOp for fund administration.
Boothbay Fund Management, a global multi-strategy alternative investment advisor, has selected SS&C GlobeOp as its fund administrator, according to SS&C Technologies.
“Boothbay’s multi-manager platform has over $2.5 billion in assets under management across more than 140 separately managed accounts. The firm selected SS&C to help scale its operations,” according to the announcement.
“As our business has grown, we’ve sought to streamline operations, consolidate processes and accelerate reporting,” says Mike Weaver, chief operating officer (COO) for the New York City-based Boothbay, in a prepared statement. “SS&C GlobeOp stands out in the market for its ability to administer complex multi-manager structures with sophisticated reporting needs like ours. SS&C’s platform will enable us to increasingly automate derivatives processing for faster reporting and seamless integration of data into downstream systems. SS&C’s technology and expertise will enable us to further consolidate across our vendors for increased efficiency and reduced operational risk.”
Boothbay has more than 140 strategies and focuses on diversification and downside protection. “The manager dynamically optimizes portfolio exposures based on real-time risk and return analytics. SS&C will support Boothbay’s middle office services, accounting, and reporting. Boothbay also uses SS&C Battea for processing and recovery of settlement claims in securities class-action lawsuits,” officials add.
“Multi-strategy vehicles are attracting a lot of investor attention. These funds need efficiency, automation, and speed in their operations. SS&C specializes in working with sophisticated clients like Boothbay to help them tackle the complexity of multiple fee structures and reporting requirements,” says Jason Costa, head of hedge fund services, Americas, for SS&C GlobeOp.
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