OAKS, PA — SEI (NASDAQ: SEIC), a global provider of investment processing, management, and operations solutions, recently announced the acquisition of Altigo, a cloud-based technology platform specializing in alternative investments. The move comes as response to increasing investor demand for alternatives, and is expected to drive growth and expand SEI’s strategic opportunity in the alternatives space.
Altigo’s platform provides inventory, e-subscription, and reporting capabilities for alternative investments. As global alternative assets are projected to reach $23 trillion by 2027 and 35% of investors aged 25 to 44 years are indicating an increased demand for such investments, SEI’s acquisition of Altigo is a timely strategic move.
Ryan Hicke, CEO of SEI, expressed confidence in the company’s unique position within the financial services industry, stating, “Our client footprint across financial intermediaries and fund sponsors—combined with the breadth of our capabilities across technology, operations, and asset management—gives us opportunities to transform private fund investing and widen access to alternative investment products for investors.”
SEI plans to integrate the Altigo team into their operations, capitalizing on their collective technical, sales, client service, and marketing expertise. The company also intends to offer a selection of alternative investment products in a Software-as-a-Service model to its existing investment manager, advisor, and banking clients by the first half of 2024.
Kevin Crowe, Senior Vice President at SEI, emphasized the importance of providing access to alternative investments, noting that the current process is often complicated and slow, and ongoing management is typically manual. He said, “This platform is built on the idea that investing in alternative securities could be made much more efficient and manageable using online technology tools and digital workflows.”
The acquisition of Altigo is not considered a material capital transaction, but is seen as a strategic move to catalyze growth for SEI. By leveraging its unique position, SEI aims to enable broader distribution of alternative investments, empower financial professionals to make faster, more confident investment decisions for their clients, and drive future growth. As SEI continues to innovate within the financial services industry, investors will be keenly watching the company’s progress in the alternatives market.
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