SEI has been selected by EIG Global Energy Partners to provide an operational outsourcing solution for the firm’s alternative investment business.
Given its recent spin-out from Trust Company of the West and its aggressive growth projections, EIG required a partner with a global presence as well as greater processing depth and power to accommodate the increasing number of investors and expanding quantity of data. This is the latest in a series of private equity wins for SEI as more firms adopt operational outsourcing to focus resources on core business functions.
Under the agreement, SEI will provide a full range of services for EIG’s private funds; including accounting, treasury, LP/investor servicing, workflow, data management, and performance reporting. SEI was selected in a competitive bid process among some of the most notable providers in the industry. The company’s ability to grow and scale with EIG, as well as its customised reporting to the firm’s sophisticated LPs, strong global presence, and ability to handle EIG’s highly complex product offerings were pointed to as key differentiators in the selection process.
“As we evaluated our operational model, we wanted a strategic partner that would not only help us gain efficiencies and automation, but also create a better experience for our investors,” says Pritpal Aujla, Chief Financial Officer of EIG. “We looked at a lot of great companies, but SEI really set itself apart. The data management and reporting features offered through both the Manager and Investor Dashboards were particularly attractive in helping us meet our investors’ demanding reporting needs. SEI also has expertise across a variety of investment products and asset classes, which we found appealing since our investment strategies are unique. We’re excited to partner with them as we look to continue growing our business in the years ahead.”
"EIG plans to grow its business significantly in the next five years and it needs a company that can accommodate that expansion both in the US and globally,” said Steve Meyer (pictured), President of SEI’s Investment Manager Services division. “We can help them achieve what we call a ‘return on operations,’ so they can focus on providing return on investment to their clients. Our goal is to provide the infrastructure, stability, and transparency EIG needs to achieve more from their operational environment. We’re pleased that EIG has placed their trust in us and we look forward to working with them as their business continues to grow and evolve.”
