SEI wins hedge-fund back-office contract

FWR Staff

11 April 2006

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. “ 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