The technology and financial services firm has made another acquisition.

SS&C Technologies, the firm which recently completed its acquisition of wealth management technology and solutions firm Advent Software, has bought Citigroup's Alternative Investor Services business for $425 million, subject to certain adjustments.

"This acquisition is solidly in line with SS&C's strategy of combining organic growth with select, high quality acquisitions. Citi Alternative Investor Services clients can be assured of SS&C's commitment to continue to serve them with world class people, process and technology,” said Bill Stone, chairman and chief executive at SS&C.

SS&C is already a prominent fund administrator for both onshore and offshore hedge funds, fund-of-funds and private equity funds.

The transaction is expected to close in the first quarter of 2016.

Founded in 1986, SS&C’s clients in the aggregate manage over $44 trillion in assets.

To see a previous story about SS&C, see here.