OAKS, PA — SEI® (NASDAQ: SEIC) has launched depositary services for Luxembourg-based alternative investment funds (AIFs), further addressing the rising demand in one of the world’s largest fund centers.
With depositary assets surging from $17 billion in 2018 to an impressive $100 billion in 2024, SEI has positioned itself as a pivotal player in the private markets space. This move builds on SEI’s established reputation, as the company already delivers depositary services to over 430 funds across multiple markets. SEI ranks as the largest fund administrator for private market funds in Luxembourg managed by U.S. firms and the top global administrator for private credit funds by assets.
The entry into Luxembourg’s alternative fund market reflects a strategic expansion that leverages SEI’s established expertise. SEI’s new offering complements its existing suite of services—which includes fund administration, regulatory reporting, and registrar and transfer agent solutions—allowing asset managers to streamline operations through a centralized technological platform.
Growing Demand for Alternative Investments
Over the past 20 years, private markets have consistently outperformed public market indices, leading to a steady uptick in global demand. SEI’s latest service expansion reflects this momentum as investment managers look to access European private markets to broaden their investor bases and unlock new capital sources.
Bryan Astheimer, SEI’s Head of Investment Managers business for EMEA, underscored Luxembourg’s importance in the company’s broader strategy. “The demand for alternatives and European private markets continues to grow, and investment managers of all sizes are looking to expand their investor base and introduce new sources of capital,” Astheimer noted. “The addition of our depositary services not only enhances our comprehensive offering across Europe but also positions us well to capitalize on these trends and opportunities to drive growth for our clients and SEI.”
Supporting a Complex Ecosystem
The company’s depositary services will cater to funds that primarily invest in private assets, offering features such as cash flow monitoring, oversight, ownership verification, and asset safekeeping. SEI’s Luxembourg services are available on a standalone basis or as part of its comprehensive fund administration suite.
This offering also provides strategic solutions for non-European Union managers marketing funds in the EU under the Depo Lite Regime. SEI’s operational hubs across Oaks, PA; London; Dublin; and Luxembourg deliver integrated platforms and client service models, offering greater transparency to fund managers navigating increasingly complex ecosystems.
SEI’s expansion aligns with the company’s long-term growth trajectory. Its Investment Managers business has surpassed $1.5 trillion in alternative assets under administration, reinforcing the scope and scale of its operations. The opening of a new office in Dublin further reflects the company’s commitment to driving global growth and innovation across the industry.
A Competitive Advantage in Luxembourg
Having already served as the largest non-bank depositary in Ireland by assets under management, SEI now sets its sights on replicating that success in Luxembourg. By addressing the operational needs of funds in the second-largest fund center globally, SEI reinforces its competitive position in the alternative investment space.
As asset managers face mounting challenges, SEI’s robust and integrated service model offers a seamless way to manage operations while maintaining compliance and transparency. This latest expansion into Luxembourg underscores SEI’s role as a leader in global fund administration.
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