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SS&C to acquire Mainstream Group

Aquisition1Global asset servicing group SS&C is set to buy specialist fund administrator Mainstream Group in a deal worth roughly $225 million (€186.3 million).

The proposed purchase was unanimously recommended by the Mainstream board and is expected to close in the third quarter of 2021.

It comes just months after SS&C pulled out of a $2.33 billion deal to acquire the Australia-based record keeping and shareholder registry provider Link Group.

Based in Australia but with offices in Ireland and the Isle of Man as well as Asia and the US, Mainstream provides fund accounting and middle office services to some 1,200 funds and has roughly $163 billion of assets under administration.

The deal continues SS&C’s prolific record of acquisitions which number more than 50 and include the buying of of Advent and DST Systems for $2.7 billion and $5.4 billion respectively.  

In 2020 SS&C agreed to buy Capita’s Irish life and pensions servicing business completing the purchase last month.

Meanwhile it was announced in late April that Carlyle Group had withdrawn its $2.23 billion bid for Link Group.