WINDSOR, Conn.–(BUSINESS WIRE)–Sept. 9, 2003–SS&C Technologies, Inc. (Nasdaq: SSNC) today announced that Wexford Capital LLC has successfully implemented AdvisorWare, its industry-leadinghedge fund software solution. Wexford is a prominent investment advisor based in Greenwich, CT, that serves the hedge fund and private equity markets.
Wexford selected AdvisorWare after a comprehensive search for a system that could meet its specialized portfolio management, partnership and share based accounting and tax needs. AdvisorWare provides a full general ledger capability that seamlessly allocates income and expenses to partners, through multi-tiered and multi-class capital structures and calculates the necessary management and incentive base fees. Additionally, AdvisorWare’s SQL based technology will enhance Wexford’s ability to meet its complex portfolio and financial reporting needs.
Wexford Principal and Chief Financial Officer Jay Maymudes remarked: “We are extremely pleased to go live on AdvisorWare. The compelling reason we chose SS&C’s product was its ability to meet our business requirements, especially in light of the multi-tiered capital structure our funds have. As we expand our business, we expect to harvest long-term benefits in terms of increased productivity, reduced costs, and more time to focus on our business.”
“We are excited to welcome Wexford as a member of our growing hedge fund client base,” said Bill Stone, CEO of SS&C. “In today’s competitive, fast-paced market, it is important for our clients to have dependable back office systems that can support their efforts and not drain their resources or profits. I am confident that AdvisorWare will enable Wexford to focus more on its investment and business development efforts.”
About Wexford Capital
Wexford Capital LLC is an SEC registered investment advisor based in Greenwich, CT that manages private equity and hedge funds. Wexford prides itself on its independent thinking and opportunistic investment style. Wexford’s sustainable edge derives from their significant expertise in a number of diverse sectors, their ability to source deals wholesale through industry contacts, their hands-on experience in managing companies with the ability to staff key positions on an interim basis, their history of value enhancement through proactive investment management and their proven track record of making prescient buy and sell decisions in a variety of sectors including bankruptcy, distressed, energy, natural resources, real estate, technology, telecommunications and transportation. Additional information is available at www.wexford.com.
About SS&C Technologies
SS&C delivers investment and financial management software and related services focused exclusively on the financial services industry. With a global client base that manages over $4 trillion in assets, each of the products in SS&C’s suite of highly specialized solutions is in the top tier of competitive offerings in the marketplace. By leveraging expertise in common investment business functions, SS&C cost-effectively serves clients in the different industry segments, including: 1) commercial lending, 2) financial institutions, 3) hedge funds and family offices, 4) insurance entities and pension funds, 5) institutional asset management, 6) municipal finance and 7) real estate property management. SS&C is publicly traded on NASDAQ under the symbol “SSNC”. Additional information is available at www.ssctech.com.
