SEI, a global provider of outsourced asset management, investment processing and investment operations solutions, has been selected by AlphaOne Capital Partners to provide a complete outsourcing solution, including middle- and back-office services, for the firm’s portfolio of investment products.
AlphaOne, an equity money management firm, sought to outsource their back- and middle-office functions as a means of achieving greater infrastructure transparency, flexibility and scalability without tying up critical internal resources.
Under the agreement, SEI will provide AlphaOne with a full range of services for AlphaOne’s institutional and hedge fund accounts, including trade processing, investment accounting, daily cash and position reconciliations with custodians, daily and month-end performance measurement, and end-client reporting and billing.
SEI will also host and maintain the firm’s order management system. SEI will provide back-office services, including fund administration, accounting and investor servicing for two of AlphaOne’s hedge funds. SEI’s services also include full business continuity and disaster recovery capabilities.
AlphaOne will receive comprehensive data management, performance and risk reporting for all back- and middle-office services provided by SEI via SEI’s online manager dashboard.
Paul Hondros, president and CEO of AlphaOne, said: “We are growing quickly, having added top-quality investment teams and client assets to our infrastructure during our first year of business. As we continue to grow, SEI gives us the confidence that everything will be integrated seamlessly, allowing us to focus on what we do best managing our investment portfolios and servicing our clients.”
John Alshefski, senior vice president of investment manager services division at SEI, said: “AlphaOne is clearly in a strong growth mode and we’re excited to help them achieve their business goals and serve their clients better now and in the future.”