#H.I.G. Capital #Luxembourg #SEI #Fund Administration

H.I.G. Capital Enters Partnership with SEI for Enhanced Fund Management

In a significant move, H.I.G. Capital, a prominent global alternative investment firm managing approximately $70 billion in assets, has selected SEI® (NASDAQ: SEIC) for their fund administration and depositary needs. This partnership aims to streamline operations associated with certain private equity and infrastructure assets based in Luxembourg and the Cayman Islands.

H.I.G. employs a diverse investment strategy that extends across various sectors, including private equity, growth equity, real estate, direct lending, and more. With a track record of managing over 400 companies globally, the firm’s partnership with SEI is set to enhance their operational footprint and establish a robust backbone for their asset management.

Brendan Dolan, the European Chief Financial Officer of H.I.G., expressed his confidence in this collaboration, stating, "SEI's global scale and extensive operational and technological expertise offer us a competitive edge. Their local service and familiarity with private markets make them the ideal partner to support our business goals effectively."

SEI is known for its comprehensive infrastructure, enabling seamless integration with H.I.G.’s current platforms. This integration is designed to minimize manual data entry and reduce operational redundancies, ultimately enhancing data transparency—an increasingly vital component in the financial services sector.

Bryan Astheimer, Head of SEI's Investment Managers business for the EMEA region, added that many firms are actively seeking partners with expertise in global private markets. He further emphasized, "The collaboration with H.I.G. aligns with our vision to deliver innovative solutions that cater to our clients' evolving needs. With the seamless integration of H.I.G.'s operational framework into SEI's platform, we aim to alleviate conversion challenges while facilitating long-term growth."

According to an SEI study, a significant percentage—58%—of private market asset managers prefer working with a single fund administrator rather than multiple providers. The firm points out that improved data quality and the ability to reduce data duplication are now crucial factors in determining their provider choices.

Ranking as the sixth largest fund administrator in Luxembourg, SEI boasts a significant presence with operational centers in Oaks, Pennsylvania, London, Dublin, and Luxembourg. This extensive network allows for an integrated operational platform that enhances client service and offers transparency in data management.

With over 1.5 trillion dollars in alternative assets under administration as of 2024, SEI demonstrates a commitment to aligning its services with the evolving requirements of investment managers worldwide. The company's focus on customizing solutions allows them to maintain relevance amid the rapid changes characterizing the financial landscape.

In conclusion, the partnership between H.I.G. Capital and SEI represents a strategic step towards greater operational efficiency in fund management. As both firms gear up to serve their clientele better, this collaboration is poised to set a standard within the industry, marking a new era for private equity and infrastructure asset management.