SS&C Technologies Holdings, Inc. announced its agreement to acquire Curo Fund Services, a prominent South African provider of fund administration solutions, from a joint venture between Sanlam and Old Mutual, pending approval from the South African Competition Commission.
SS&C Technologies Holdings, Inc. has entered into an agreement to acquire Curo Fund Services, a leading South African provider of fund administration solutions. The acquisition is from a joint venture between Sanlam and Old Mutual and is contingent upon approval by the South African Competition Commission. The specific terms of the transaction were not disclosed.
Curo Fund Services currently administers more than R 3 trillion, equivalent to approximately USD 170.4 billion, in assets. It provides services to a diverse client base, including Sanlam, Old Mutual, and other third-party institutional clients. Following the completion of the transaction, approximately 300 Curo employees based in Cape Town are expected to join SS&C. Curo already utilizes several of SS&C’s fund accounting and asset servicing technologies, and the acquisition will not impact Curo’s existing client administration arrangements.
Bill Stone, Chairman and CEO of SS&C, commented on the acquisition, stating, “Curo brings deep client relationships and a proven service track record. Together, we will deliver greater efficiency, data-driven insights, and integrated services for the region’s insurers, asset managers and institutional investors.”
Curo will operate independently under SS&C’s ownership and will integrate into the Global Investor & Distribution Solutions (GIDS) group, led by Nick Wright. This structure is intended to offer South African clients access to a globally scaled technology and services provider, enhancing neutrality, innovation, and flexibility in the market. The integration with SS&C’s automation, data, and operational expertise is expected to enable Curo to expand its fund administration offerings, increase its market share, and accelerate growth across South Africa and the wider African continent.
Lionel Vice, CEO of Curo Fund Services, expressed enthusiasm for the partnership, saying, “We are proud to be joining the SS&C family. This partnership allows us to accelerate our innovation journey and offer a more robust and comprehensive suite of solutions to our clients while continuing to grow our business. SS&C’s global expertise, commitment to service excellence, and focus on developing the local market align strongly with Curo’s purpose and vision.”
Curo Fund Services, based in South Africa, specializes in comprehensive fund accounting, investor administration, and regulatory reporting services for asset managers, investment platforms, and institutional investors.
SS&C Technologies is a global provider of software and services for the financial services and healthcare industries. Established in 1986 and headquartered in Windsor, Connecticut, SS&C serves over 22,000 organizations worldwide.
