SEI Launches Depositary Services in Luxembourg

Rhea-AI Summary

SEI (NASDAQ: SEIC) has announced the launch of depositary services for Luxembourg alternative investment funds (AIFs). The company's depositary assets have grown significantly from $17 billion in 2018 to $100 billion in 2024, currently serving over 430 funds. SEI holds leading positions as the largest fund administrator for U.S.-managed private market funds in Luxembourg and the largest private credit fund administrator globally by assets.

The new Luxembourg depositary services will complement SEI's existing offerings, including fund administration, registrar and transfer agent, and regulatory reporting services. The company provides services such as cash flow monitoring, oversight, ownership verification, and safekeeping of assets. SEI has been providing depositary services in Ireland for 25 years, where it is the largest non-bank depositary by AUM.

SEI recently surpassed $1.5 trillion in alternative assets under administration and has operational centers in Oaks, PA, London, Dublin, and Luxembourg.

Positive

• Significant growth in depositary assets from $17B (2018) to $100B (2024)
• Market leadership position as largest private credit fund administrator globally
• Reached $1.5 trillion in alternative assets under administration
• Geographic expansion strengthening global operational footprint
• Leading position as largest non-bank depositary in Ireland by AUM

Negative

• None.

Launch Strengthens Comprehensive Global Offering and Operational Footprint

OAKS, Pa. and LUXEMBOURG, Jan. 7, 2025 /PRNewswire/ -- SEI^® (NASDAQ: SEIC) today announced the launch of depositary services for Luxembourg alternative investment funds (AIFs), the second-largest fund center in the world.¹ With depositary assets growing from $17 billion in 2018 to $100 billion in 2024,² SEI has experienced significant demand for this service and already provides depositary services to more than 430 funds from other fund centers.² SEI is the largest fund administrator for private market funds in Luxembourg that are managed by a U.S. firm³ and the largest private credit fund administrator by assets globally.⁴

Over the last two decades, private markets have consistently outperformed corresponding public markets indexes.⁵ However, as the demand for these investments continues to grow, asset managers are managing a complex ecosystem of providers to support their operational footprint. The launch of these services in Luxembourg will complement SEI's offering that includes fund administration, registrar and transfer agent, and regulatory reporting services—providing asset managers with a single point of contact for their technology and operations requirements.

Bryan Astheimer, Head of SEI's Investment Managers business, EMEA, added:

"The demand for alternatives and European private markets continues to grow, and investment managers of all sizes are looking to expand their investor base and introduce new sources of capital, and this launch further underscores our growth and commitment in Luxembourg. Our strategic focus on scaling our global operational footprint supports our clients to efficiently launch funds—while meeting compliance requirements in different domiciles.

"The addition of our depositary services not only enhances our comprehensive offering across Europe, but it also positions us well to capitalise on these trends and opportunities to drive growth for our clients and SEI."

SEI has delivered depositary services in Ireland for 25 years, and the company is the largest non-bank depositary in Ireland by assets under management (AUM)⁶ and the second biggest depositary in Ireland for servicing non-Irish funds by AUM.⁶

Depositary services in Luxembourg will further support funds that primarily invest in private assets. Alternative investment fund managers can access the company's depositary services as part of a suite of fund administration services or on a standalone basis. Services include:

• Cash flow monitoring
• Oversight
• Ownership verification
• Safekeeping of assets

SEI can also provide depositary services to non-European Union managers looking to market non-EU funds to European Union investors under the Depo Lite Regime.⁷

With operational centers in Oaks, PA, London, Dublin, and Luxembourg, SEI delivers a cohesive, integrated operational platform and client service model that provide clients with transparency into their data and day-to-day fund operations. SEI recently surpassed $1.5 trillion in alternative assets under administration in its Investment Managers business and opened a new office space in Dublin as part of its focus on driving strategic growth globally.

¹ Association of the Luxembourg Fund Industry, "Luxembourg: The Global Fund Centre," 2021.
² Data as of March 31, 2024.
³ Preqin data based on AUA as of Sept. 3, 2024.
⁴ Preqin as of Jan. 31, 2024.
⁵ McKinsey & Company, "Private Markets Turn Down the Volume," McKinsey Global Private Markets Review, 2023.
⁶ Monterey Insight, "Ireland Fund Report," 2023.
⁷ Services can be delivered in Ireland and Luxembourg for non-EU AIFs marketed within the EU. Services are also offered for non-EU AIFs distributed in Germany and/or Denmark.

About SEI^®
SEI (NASDAQ: SEIC) delivers technology and investment solutions that connect the financial services industry. With capabilities across investment processing, operations, and asset management, SEI works with corporations, financial institutions and professionals, and ultra-high-net-worth families to help drive growth, make confident decisions, and protect futures. As of Sept. 30, 2024, SEI manages, advises, or administers approximately $1.6 trillion in assets. For more information, visit seic.com.

About SEI's Investment Managers business
SEI's Investment Managers business provides advanced operating infrastructure for investment organizations of all types to evolve and compete in a landscape of escalating business challenges. SEI's global operating platform delivers customized and integrated capabilities across a wide range of investment vehicles, strategies, and jurisdictions to investment managers and asset owners. The company's services enable users to gain scale and efficiency, keep pace with marketplace demands, and run their businesses more strategically. SEI partners with more than 320* traditional asset managers, alternative managers, and sovereign wealth managers, including 43 of the top 100 asset managers worldwide.** For more information, visit seic.com/ims.

*Does not include family office clients.
**Based on Pensions & Investments' "Largest Money Managers" 2023 ranking.

Company Contact:	Media Contact:
Leslie Wojcik	Amelia Graham
SEI	Vested
+1 610-676-4191	+44 (0)7393 477 057
lwojcik@seic.com	amelia@fullyvested.com

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SOURCE SEI Investments Company

FAQ

How much has SEI's depositary assets grown from 2018 to 2024?

SEI's depositary assets have grown from $17 billion in 2018 to $100 billion in 2024, representing significant growth over six years.

What services does SEI's new Luxembourg depositary offering include?

SEI's Luxembourg depositary services include cash flow monitoring, oversight, ownership verification, and safekeeping of assets.

How many funds does SEI currently provide depositary services to?

SEI currently provides depositary services to more than 430 funds from various fund centers.

What is SEI's (SEIC) total alternative assets under administration as of 2024?

SEI has surpassed $1.5 trillion in alternative assets under administration in its Investment Managers business.

Where are SEI's operational centers located?

SEI's operational centers are located in Oaks, PA, London, Dublin, and Luxembourg.