Shearman & Sterling is advising Citigroup on the sale of its Alternative Investor Services business, which includes Hedge Fund Services and Private Equity Fund Services, to SS&C Technologies Holdings, Inc. for $425 million, subject to certain adjustments. The transaction is subject to approvals by relevant regulatory authorities and other customary closing conditions. The transaction is expected to close in the first quarter of 2016.
The Shearman & Sterling team included associates Richard Fischetti, Carlos Soto, Edward Boehme (all New York-Mergers & Acquisitions), Zach Bench and Katie Butler (both New York-Corporate). Also advising on the transaction were partners Doreen Lilienfeld (New York-Compensation, Governance & ERISA), Kristen Garry (Washington, DC-Tax), and Jessica Delbaum (New York-Antitrust); counsel Jordan Altman (New York-Intellectual Property Transactions); and associates Stephanie Monastra (New York-Compensation, Governance & ERISA), Mary Jo Lang (Washington, DC-Tax), Joshua Steinberger, Mark Pereira (both New York-Intellectual Property Transactions) and Kelly Karapetyan (New York-Antitrust).