Wexford Capital, an investment advisor, has outsourced fund administration services to SS&C Fund Services, an independent fund administrator.

SS&C was selected as the administrator of record for all four of Wexford’s hedge funds in August 2009. The new mandate was a result of Wexford’s decision to provide additional transparency into the pricing of their portfolios for their investors. They turned to SS&C to independently review Wexford’s internal accounting records and monthly performance results and verify Wexford’s monthly reconciliations and investment valuations. SS&C also provides all transfer agency and shareholder services to Wexford’s investors.

A client since 1994, Wexford also uses SS&C’s portfolio and partnership accounting platform AdvisorWare and enterprise reconciliation solution Recon for in-house accounting processes of its multi-tiered structured funds.

Jay Maymudes, partner and chief financial officer at Wexford, said: “As we expand our business, we, once again, chose SS&C because of their proven expertise and success in providing both software solutions and fund administration services for alternative investment firms just like ours.”

Bill Stone, chairman and CEO of SS&C Technologies, said: “Once the decision was made by Wexford to go with SS&C, we had the administrative services for the first of four funds up and in production within 30 days.”

SS&C Fund Services is a part of SS&C Technologies Holdings, a global provider of financial services software and software-enabled services.