Eisner Sells Back-Office Unit

Tri-state area CPA and business advisory firm Eisner has divested Eisnerfast LLC, its fund accounting and back-office affiliate, to SS&C Technologies Inc., a Windsor, Conn.-based provider of financial management software and outsourcing services. Under the terms of the sale, SS&C will pay $25.3 million in cash for the unit, which delivers back-office accounting and administration services to on- and off-shore hedge and private equity funds, funds of funds, and investment advisors. Eisnerfast provides more than 250 funds with an internal accounting infrastructure, including portfolio accounting, investor accounting, books and records, tax reporting, and performance analysis. Rahul Kanwar, managing director of Eisnerfast, will continue in that capacity under the new ownership. Eisner said that due to the current regulatory climate, the firm decided to focus on its core audit and tax services