SEI’s private equity business has more than doubled in the past 18 months, as more firms adopt operational outsourcing to focus resources on core business functions.
New clients include private equity funds from Hamilton Lane and Garrison Capital Management, among others, and SEI’s private equity business now totals more than 200 funds and more than GBP15 billion.
In recent years outsourcing has gained traction in the private equity sector as closed-ended products become more prevalent and managers face pressure from investors demanding independent administration. In addition, the challenges during the market downturn have led managers to focus even more on their core areas of expertise and rely on outsourcing non-core functions as a way to gain an institutional-quality operating environment.
SEI’s private equity fund services include accounting, treasury, investor servicing and performance reporting for both general partners (GPs) and limited partners (LPs). In addition, SEI’s innovative technology, including workflow and document management capabilities, has been a key competitive distinction as managers seek ways to increase transparency, standardisation and automation.
“As more private equity managers look to outsource, they are seeking out experienced partners that have an institutional-quality operation and reputation,” said Jim Cass, Vice President, SEI’s Investment Manager Services division. “We’ve continued to invest in technology applications that really set us apart. This growth momentum is a testament to our industry-leading solution and the value we bring to managers.”
