SEI Selected by Rock Ridge Advisors to Service Hedge Fund Complex
OAKS, Pa., Jan. 11 /PRNewswire-FirstCall/ -- SEI (Nasdaq: SEIC), a leading global provider of outsourced asset management, investment processing and investment operations solutions, today announced that it has been selected by Rock Ridge Advisors to provide a suite of operational outsourcing solutions for its hedge funds. The deal points to an industry trend as investors continue to push hedge funds to seek out larger institutional partners amid increased competition and regulatory scrutiny.
SEI was selected in a competitive evaluation process among some of the most notable providers in the industry. The company's combination of deep industry expertise, advanced capabilities, robust infrastructure, and innovative technology were pointed to as key differentiators in the selection process.
"To be a successful investor in today's evolving markets we recognize the need to implement an efficient and innovative investment process with solid operational expertise," said Woody Jay, Rock Ridge's Co-managing Partner. "SEI is a top-tier provider with an unmatched depth and breadth of industry expertise and technology support. SEI certainly adds that important level of capability to compete effectively in the global asset management business."
"As the hedge fund sector becomes more competitive and investor driven, the selection of an outsourcing partner becomes even more critical," said John Alshefski, head of Business Development for SEI's Investment Manager Services division. "We're seeing hedge fund clients looking for larger institutional partners with broad capabilities, resources and credibility. We're excited to partner with Rock Ridge Advisors as they look to grow their funds and provide new levels of service to their investors."
About Rock Ridge Advisors
Rock Ridge Advisors is a Greenwich, CT.-based hedge fund managed by Woody Jay and Brian Pennington. Rock Ridge Advisors launched the Rock Ridge Funds eighteen months ago with $75 million in assets, and is growing rapidly, currently managing approximately $300 million for institutional clients. Rock Ridge fully integrates proprietary macro relative-value frameworks across multiple global liquid markets strategies. Rock Ridge's investment team leverages the group's experience through various market cycles to extract economic value from global imbalances and security mis-pricings. It seeks to benefit from asymmetrical investment outcomes through effective trade implementation and risk management.
About SEI's Investment Manager Services Unit
SEI's Investment Manager Services unit provides total operations outsourcing solutions to investment managers focused on mutual funds, hedge and private equity funds, separately managed accounts and institutional client services. The unit applies operating services, technologies, and business and regulatory knowledge to each client's business objectives. Its resources enable clients to meet the demands of the marketplace and sharpen business strategies by focusing on their core competencies.
About SEI
SEI (Nasdaq: SEIC) is a leading global provider of outsourced asset management, investment processing and investment operations solutions. The company's innovative solutions help corporations, financial institutions, financial advisors, and affluent families create and manage wealth. As of the period ending September 30, 2006, through its subsidiaries and partnerships in which the company has a significant interest, SEI administers $344.9 billion in mutual fund and pooled assets and manages $168.9 billion in assets. SEI serves clients, conducts or is registered to conduct business and/or operations, from more than 20 offices in over a dozen countries. For more information, visit http://www.seic.com.
Contact: Larry Wexler Jason Rocker
Company: SEI Braithwaite Communications
Voice: 610.676.1440 215-564-3200 x 10
E-mail: lwexler@seic.com jrocker@braithwaitepr.com
SOURCE SEI
Released January 11, 2007