SEI 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 founded by former Gartmore chief executive Paul J. Hondros, 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 its 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.
Additionally, 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 data management, performance and risk reporting for all back and middle office services via SEI’s online Manager Dashboard.
"As we went through the process, it was clear that no one could compare with SEI’s ability to integrate best-in-class systems into one seamless infrastructure that can scale with the changing needs of our business," says Hondros. "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."
"We’re seeing more and more firms looking to outsourcing, not only as a means of gaining efficiencies, but as a way to build an operational environment that can help attract additional opportunities," says John Alshefski, senior vice president, SEI’s investment manager services division. "At SEI, we’ve spent a tremendous amount of time and resources ensuring our platform and our processes provide the integration and the scalability that our clients need across business models and asset classes. 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."
