Citigroup announced that it has reached a definitive agreement to sell its Alternative Investor Services business, which comprises Hedge Fund Services and Private Equity Fund Services, to SS&C Technologies Holdings for $425 million.
The entire operations of this business, including approximately 1,500 employees, will be transferred to SS&C upon closing.
This transaction is a positive outcome for Alternative Investor Services, including its employees and clients. As a result of this deal, Alternative Investor Services will become part of a known leader in financial services with a demonstrated track record of delivering high-quality products and services to its clients.
The deal is expected to close in the first quarter of 2016, and is subject to regulatory approvals and other customary closing conditions.
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