SS&C Technologies has bought TheNextRound (TNR), a software provider focused on the private equity and alternative investment industries.

TNR has more than 225 clients in 25 countries and its flagship offering, TNR Solution, is a system designed to support both front and back office capabilities, such as partnership accounting, portfolio management and fund reporting.

Bill Stone, chairman and CEO of SS&C Technologies, described TNR as an “excellent addition” to SS&C and added: “We are now well positioned to offer a comprehensive end-to-end private equity and alternative investment management solution.”

Vipul Minocha, president of TNR, commented: “SS&C has a solid understanding of the TNR offering and the alternative investment management marketplace.

“SS&C's global presence and financial strength in the alternative investment segment will enhance TNR's position as a strong leader and allow us to retain our technology edge and provide better support for our clients.”