SS&C acquires Curo Fund Services, terms undisclosed

SS&C announced the acquisition of Curo Fund Services from a joint venture between Sanlam and Old Mutual. The transaction is subject to approval by the South African Competition Commission. Terms of the deal were not disclosed. Curo Fund Services administers more than $170.4B in assets and services Sanlam, Old Mutual and third-party institutional clients. Around 300 employees will join SS&C in Cape Town following the close of the transaction. Curo Fund Services already leverages several of SS&C’s fund accounting and asset servicing technologies. The transaction will not affect Curo’s existing client administration arrangements.