Family Office
SEI wins hedge-fund back-office contract
SCS Financial’s fund-of-funds unit opts for outsourcing.
Hedge-fund manager SCS Fund Management has selected SEI to
provide administration, accounting and investor servicing for
onshore funds. SCS Fund Management manages hedge-fund portfolios
for endowments, foundations and families.
“SEI is a well-established leader in the fund of funds space,”
says Ken Minklei, head of SCS’s fund business. “[SEI] brings a
unique combination of industry knowledge and technology support
that we feel will be critical for our funds and our investors as
we grow.”
John Alshefski, head of new business development for SEI's
Investment Manager Services unit, says that the alternative
investment segment had seen tremendous growth over the last few
years and that it’s meant more business for SEI thanks to its
“expertise in the fund of funds space, as well as its top-tier
client roster and references.”
SEI has done about 30 outsourcing deals with alternative
investment managers.
SCS Fund Management is the alternative investment unit of SCS
Financial, a Waltham, Mass.-based asset manager. It manages about
$3.5 in mostly private-client assets. –FWR
.