New Regulatory Environment Causes Managers to Select Larger Administrators
SEI (Nasdaq: SEIC – News), a leading global provider of asset management services and investment technology solutions, today announced that it has been selected by Kinetics Advisers to provide fund administration for their offshore hedge fund. The deal points to an emerging industry trend as investors continue to push hedge funds to seek out larger institutional administrators amid increased regulatory scrutiny.
Under the agreement, SEI will provide administration, accounting and investor servicing. “We looked at all of the top-tier administrators, and chose SEI based on their combination of accounting and regulatory and compliance expertise as well as their global reach,” said Leonid Polyakov, Managing Director and Co-Founder of Kinetics Advisers. “Their team brings a unique combination of industry expertise and technology support that is ideal for us and our investors as we continue to expand.”
