SS&C Hit With Second Portfolio Management Tech Monopoly Suit (1)

SS&C Technologies Holdings Inc. was hit with an antitrust lawsuit in Manhattan federal court Tuesday, the second to claim it’s monopolizing the portfolio management software market after acquiring Advent, which makes the leading “Geneva” accounting platform.

“This lawsuit challenges defendants’ attempts to prevent and destroy competition in this industry,” the complaint says.

It was filed by Arcesium LLC, which provides tech services to hedge funds and asset managers, about two months after the unsealing of a similar case brought in Philadelphia federal court by SEI Global Services Inc.

Both suits targets the 2015 Advent acquisition by SS&C, a competitor of ...