WEST PALM BEACH, FL (www.hedgeco.net) – Aetna Capital Management, LLC (ACM) has selected SEI Investments to administer its hedge fund of funds business. According to the press release, \u00c3\u00af\u00c2\u00bf\u00c2\u00bdSEI isutilizing its proprietary hedge fund operating platform to provide support and fund administration services for Aetna Capital Management.\u00c3\u00af\u00c2\u00bf\u00c2\u00bd SEI will also provide \u00c3\u00af\u00c2\u00bf\u00c2\u00bdsubscription document processing,data aggregation, and specialized reporting\u00c3\u00af\u00c2\u00bf\u00c2\u00bd.<\/p>\n
Aetna implemented its alternative investment management program about 4 years ago, and oversees over $20 billion in general accounts, according to published reports. Mark Garber, President of Aetna Capital Management LLC said, “We needed a service provider with the market and product knowledge, the technology, and the capacity to let us hit the ground running. SEI’s solution was the best match for our requirements, SEI knows the fund of funds business, and that experience is reflected in their platform’s design and specialized fund of funds features.”<\/p>\n
SEI was chosen for the ACM assignment from a field of 15 contenders. In its response, SEI said, “We’re pleased to have Aetna Capital Management as a new investment management client,” said Steve Meyer, head of SEI’s Investment Manager Market unit. He added, “ACM’s needs present just the kind of challenges our hedge fund platform is designed to overcome.”<\/p>\n
Aetna Capital Management, LLC is a subsidiary of Aetna, Inc. and its affiliated companies, which specializes solely in managing hedge fund investments for Aetna as well as outside clients. Aetna Capital Management, LLC is headquartered in West Hartford, CT. SEI’s Investment Manager Market Unit provides comprehensive outsourcing solutions to investment managers focused on mutual funds, hedge funds, separately managed accounts and private client services.<\/p>\n
Paul Oranika
Editor-in-Chief
HedgeCo.Net
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