SEI (NASDAQ: SEIC) today announced the company has been hired by Kent State University to provide outsourced investment management services for the university's non-endowment assets. SEI will manage the university's three pools of investments including a short, intermediate and long-term pool. The total value of the assets within the three pools is over $410 million. SEI was chosen after being one of five finalists following an open Request for Proposal process.
"SEI is proud to partner with Kent State University and we look forward to working with the organization to manage these investments," said Paul Klauder, Executive Vice President of SEI and Head of SEI's Institutional Group. "We believe our capabilities in working with colleges and universities in managing multiple pools of assets set us apart from other OCIOs in this space."
SEI continues to see increased interest in the company's OCIO services from colleges and universities. Beyond its industry-leading OCIO solutions, SEI provides these organizations with an ongoing advisory process that helps decision-makers gain a better understanding of how various pools of investments impact liquidity needs, debt considerations and other strategic initiatives. This provides a holistic view of the school's total financial risks while allowing for more nimble decision making that supports strategic and financial goals.
As of June 30, 2017, SEI has $88.5 billion in OCIO assets including over 170 non-profit clients representing $23.9 billion in assets.
About SEI's Institutional Group
SEI's Institutional Group is one of the first and largest global providers of outsourced investment management services. The company delivers integrated retirement, healthcare and non-profit solutions to more than 475 clients in 13 countries. Our solutions are designed to help clients meet financial objectives, reduce business risk and fulfill 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/institutions.
SEI (NASDAQ:SEIC) is a leading global provider of investment processing, investment management, and investment operations solutions that help corporations, financial institutions, financial advisors, and ultra-high-net-worth families create and manage wealth. As of June 30, 2017, through its subsidiaries and partnerships in which the company has a significant interest, SEI manages, advises or administers $809 billion in hedge, private equity, mutual fund and pooled or separately managed assets, including $307 billion in assets under management and $497 billion in client assets under administration. For more information, visit seic.com.