SS&C Chairman and CEO Bill Stone commented, "Eisnerfast is a quality organization with quality people, they are a long-term client of SS&C, and we believe this is an excellent strategic fit. Two years ago, our board endorsed an aggressive plan to build our fund administration outsourcing business and Eisnerfast is one more part of the plan. This acquisition fits strategically, and Eisnerfast is a well run business with excellent prospects."
Eisner LLPâs managing partner, Charles Weinstein, said, "We put together an aggressive business plan for Eisnerfast and our team executed. With todayâs regulatory environment, we made the decision to strategically focus on our core audit and tax services. Eisner will continue to provide the highest quality audit services to hedge and private equity funds and the rest of the financial services industry. SS&C has been a great technology partner and we wish them great success."
Rahul Kanwar, Managing Director of Eisnerfast, will continue to manage the business unit. Commenting on the acquisition, Kanwar said, "For several years we have successfully supported our clients using Total Return, one of SS&Câs comprehensive technology platforms for the hedge fund industry. We are excited about becoming a part of the SS&C family. SS&Câs commitment to the alternative investment industry, depth of product offerings, and robust support infrastructure are key elements for our continued growth."
Ward McGraw, SS&Câs Senior Vice President, Hedge Fund and Family Office, stated, "In the last few years, SS&C has decisively grown its fund administration outsourcing business, both organically and through acquisitions. The acquisition of Eisnerfast gives us a larger presence in the New York market, as well as a talented and experienced staff of professionals, a solid client base and a specific expertise with private equity funds."