Key Takeaways
- • SS&C Technologies (Nasdaq: SSNC) announced that Lexington Capital Management LP has selected SS&C GlobeOp as its fund administrator, covering more than $1 billion in assets under management.
- • The engagement spans commingled funds and five separately managed accounts, with services including fund administration, investor servicing, and regulatory and investor reporting.
- • Lexington, a Lakewood, New Jersey-based hedge fund manager founded by Joel Wolhendler in 2013, pursues absolute return strategies targeting double-digit annualized returns with low volatility.
- • Lexington's CFO Yitz Berger said NAV and detailed investor reporting capabilities are crucial in helping the firm attract institutional investors.
- • The relationship expanded from Lexington's initial use of SS&C's Eze OMS, following growth driven by the addition of separately managed accounts.
Summary
SS&C Technologies Holdings, Inc. (Nasdaq: SSNC) announced that Lexington Capital Management LP has selected SS&C GlobeOp as its fund administrator, according to a Business Wire release. The Lakewood, New Jersey-based hedge fund manager will receive a full range of fund services across more than $1 billion in assets under management, including its commingled funds and five separately managed accounts.
Lexington initially started on SS&C's Eze OMS. When its business expanded with the addition of separately managed accounts, the firm extended its relationship to include fund administration, investor servicing and reporting through SS&C GlobeOp. SS&C characterized the engagement as underscoring the breadth and scalability of its operating model.
Lexington Capital Management LP, formerly Lexington Securities LLC, was founded by Joel Wolhendler in 2013. The firm runs an active, opportunistic trading-oriented equities and options strategy that combines technical and fundamental analysis to build high-conviction long and short portfolios. According to the firm's description, it targets absolute, double-digit returns regardless of market conditions, focusing on liquid, mid- to large-capitalization companies.
In a statement, Lexington CFO Yitz Berger said the business had grown rapidly over the past year, increasing reporting needs, and that SS&C GlobeOp's front-to-back platform helps the firm streamline and scale operations. He added that the platform's ability to deliver NAV and detailed investor reports quickly and accurately is crucial in attracting institutional investors.
SS&C described GlobeOp's fund servicing solution as combining investment operations, middle-office trade reconciliation, administration, and regulatory and investor reporting. Highlighted capabilities include an AI-enabled Trade Reconciliation Agent that runs around the clock, cloud hosting, and LLM access routed through its AI Gateway governance platform. SS&C said its experts focus on problem reconciliations and can resolve them up to 95% faster. Bhagesh Malde, Head of SS&C GlobeOp, said the firm supports emerging, mid-sized and multi-billion-dollar managers with the same level of service.
Lexington initially started on SS&C's Eze OMS. When its business expanded with the addition of separately managed accounts, the firm extended its relationship to include fund administration, investor servicing and reporting through SS&C GlobeOp. SS&C characterized the engagement as underscoring the breadth and scalability of its operating model.
Lexington Capital Management LP, formerly Lexington Securities LLC, was founded by Joel Wolhendler in 2013. The firm runs an active, opportunistic trading-oriented equities and options strategy that combines technical and fundamental analysis to build high-conviction long and short portfolios. According to the firm's description, it targets absolute, double-digit returns regardless of market conditions, focusing on liquid, mid- to large-capitalization companies.
In a statement, Lexington CFO Yitz Berger said the business had grown rapidly over the past year, increasing reporting needs, and that SS&C GlobeOp's front-to-back platform helps the firm streamline and scale operations. He added that the platform's ability to deliver NAV and detailed investor reports quickly and accurately is crucial in attracting institutional investors.
SS&C described GlobeOp's fund servicing solution as combining investment operations, middle-office trade reconciliation, administration, and regulatory and investor reporting. Highlighted capabilities include an AI-enabled Trade Reconciliation Agent that runs around the clock, cloud hosting, and LLM access routed through its AI Gateway governance platform. SS&C said its experts focus on problem reconciliations and can resolve them up to 95% faster. Bhagesh Malde, Head of SS&C GlobeOp, said the firm supports emerging, mid-sized and multi-billion-dollar managers with the same level of service.
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