Tue, 10/06/2014 - 13:36
Logan Circle Partners is to expand its relationship with SEI as it looks to broaden its distribution into global markets through a Qualifying Investor Fund (QIF) umbrella.
SEI’s Investment Manager Services division is a supplier of customised operating infrastructure and services to investment organisations that collectively have more than USD13 trillion in assets under management.
The move comes at a time when private fund managers are looking to launch their strategies in new packaging to make them more accessible to an increasingly international investor base. Drawing on SEI’s expertise in global product packaging, and through consultation with their client service team at SEI, Logan Circle considered various options before approaching the global institutional investor marketplace. This new business will be serviced out of SEI’s Dublin, Ireland office.
“As we evolve from managing institutional separate accounts and private funds to expanding our strategies in the global markets, it’s important for us to have an operating partner with deep expertise and strong servicing capabilities in a variety of offshore and onshore products and locations,” says Jude Driscoll, CEO of Logan Circle. “The product-spanning design of SEI’s operating platform, as well as its 15 years of experience in the European marketplace, were key factors in our decision to launch a QIF.”
SEI’s existing relationship with Logan Circle, part of Fortress Investment Group, includes servicing their private funds and their recently launched separately managed accounts (SMA) business. In addition, in 2013 when Logan Circle was seeking new ways to meet the investment needs of the US retirement market, it partnered with SEI Trust Company (STC) to establish a new collective investment trust for which STC serves the trustee. On 1 July 2013, the Logan Circle Partners Emerging Markets Debt Collective Trust accepted its first investment.
“Investment managers increasingly want the flexibility to package their expertise in a variety of ways without the costs and inefficiencies of working with multiple service providers,” says John Alshefski, senior vice president of SEI’s investment manager services division. “We’re pleased to be able to help Logan Circle expand their business and explore new distribution opportunities in Europe and beyond.”
SEI has built its customisable operating platform to support multiple investment vehicles, including mutual funds, limited partnerships, ETFs, CITs, QIFs, UCITS, and SMAs, with the ability to aggregate and analyse data across products and asset classes.
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