Greater Washington Community Foundation Hires SEI as Outsourced Chief Investment Officer for $197 Million Investment Pool

Rhea-AI Summary

SEI (NASDAQ:SEIC) has been appointed as the outsourced chief investment officer (OCIO) for the Greater Washington Community Foundation, managing approximately $197 million of its assets. This partnership aims to enhance investment management through discretionary services, manager oversight, and support for the foundation's long-term goals. SEI will oversee asset allocations, introduce new asset classes, and implement considerations for social and environmental factors. The partnership is a testament to SEI's 50-year track record in investment management for over 460 clients globally.

Positive

• New partnership with Greater Washington Community Foundation to manage $197 million.
• Improved investment management services expected to enhance stewardship of foundation's assets.
• SEI's experience and reputation may strengthen investor confidence.

Negative

• Potential challenges in aligning new investment strategies with the foundation's goals.

OAKS, Pa., March 8, 2021 /PRNewswire/ -- SEI (NASDAQ:SEIC) today announced the company has been hired by the Greater Washington Community Foundation (The Community Foundation) to serve as outsourced chief investment officer (OCIO) for approximately $197 million of the foundation's assets. Through this strategic partnership, SEI will provide discretionary investment management services, including manager selection and oversight, as well as help The Community Foundation's Investment Committee in strengthening the overall stewardship of the foundation's assets. SEI provides investment management services to more than 460 global institutional investors, including over 175 non-profit organizations, representing $32 billion in assets.*

"The Greater Washington Community Foundation's leadership should be commended for their unwavering focus on maximizing charitable giving and helping their donors preserve and grow their funds for lasting community impact," said Michael Cagnina, Vice President and Managing Director, for SEI's Institutional Group in North America. "As their OCIO, we look forward to partnering with The Community Foundation in supporting the long-term goals of its donors and its mission."

The Community Foundation Investment Committee is the trusted steward of over $300 million in charitable funds. SEI will act as OCIO in managing $197 million of the assets in The Community Foundation's Combined Investment Fund, while also providing oversight and integration of data and reporting across all investments, and support around marketing and donor communications. The two organizations will work together to regularly review and consider asset allocations that make the most sense for The Community Foundation's long-term goals. This includes the ongoing consideration and implementation of a variety of new asset classes, as well as incorporating social, environmental and diversity-related considerations across the portfolio.

"The Community Foundation's investment committee selected SEI based on their more than 50-year track record of providing technology-driven investment management solutions and felt they were best aligned with our long-term vision," said Lesley-Jane Dixon, Chair of The Community Foundation's Investment Committee. "We have found a strategic partner in SEI, who has experience working with other leading community foundations, and the expertise and resources to provide the insight and guidance needed to enhance our investment program."

*As of Dec. 31, 2020

About SEI's Institutional Group
SEI's Institutional Group provides institutional investors with outsourced investment management services and custom platforms to support insourced investment staffs. SEI is one of the first and largest global providers of outsourced or OCIO investment management services to the institutional marketplace and recently launched its Enhanced CIO services globally to institutional investors that desire to have internal resources. The company delivers these integrated solutions to more than 460 clients in 12 countries, as of Dec. 31, 2020. Our solutions are designed to help clients meet financial objectives, reduce business risk and fulfil their due diligence requirements through implemented strategies for the management of defined benefit plans, defined contribution plans, endowments, foundations and board-designated funds. For more information visit: seic.com/institutional-investors

About SEI
After 50 years in business, SEI (NASDAQ:SEIC) remains a leading global provider of investment processing, investment management, and investment operations solutions designed to help corporations, financial institutions, financial advisors, and ultra-high-net-worth families create and manage wealth. As of Dec. 31, 2020, through its subsidiaries and partnerships in which the company has a significant interest, SEI manages, advises or administers approximately $1 trillion in hedge, private equity, mutual fund and pooled or separately managed assets, including approximately $369 billion in assets under management and $787 billion in client assets under administration. For more information, visit seic.com.

Company Contact:	Media Contact:
Frank Wilkinson	Kristina Pereira Tully
SEI	Vested
+1 610-676-1483	+1 650-464-0080
fwilkinson@seic.com	kristina@fullyvested.com

 

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SOURCE SEI Investments Company

FAQ

What is SEIC's role with the Greater Washington Community Foundation?

SEIC has been appointed as the outsourced chief investment officer (OCIO) managing approximately $197 million of the foundation's assets.

Why did the Greater Washington Community Foundation select SEIC?

The selection was based on SEI's 50-year track record and alignment with the foundation's long-term vision.

What services will SEI provide as OCIO for the community foundation?

SEI will deliver discretionary investment management services, including manager selection, oversight, and asset allocation reviews.

When was SEI appointed as OCIO for the Greater Washington Community Foundation?

SEI was appointed on March 8, 2021.

How does SEI's partnership impact the Greater Washington Community Foundation's investments?

The partnership aims to enhance the foundation's investment strategy, including integration of new asset classes and consideration of social and environmental factors.