Integration Enhances Operational Efficiency and User Experience for Family Offices

OAKS, Pa. and NEW YORK, July 30, 2024 /PRNewswire/ -- SEI (NASDAQ:SEIC) and Canoe Intelligence (Canoe) today announced an enhanced integration that automates the transmission of private equity and hedge fund valuations, as well as private equity call and distribution data, to improve operational efficiency for family offices using the SEI Archway PlatformSM.

With global alternative assets expected to hit $23 trillion by 2027,1 family offices allocated 42% of their investment portfolios to alternative assets in 2023.2 However, as the demand for alternative assets has grown, single family offices have been challenged with manual data management workflows, resulting in inefficient data aggregation, accounting, and reporting that can be error-prone. By automating data transmission and ensuring data consistency, this integration streamlines the accessibility and integration of alternatives data to maximize operational efficiency and empower family offices to make confident decisions.

Sandy Ewing, Head of SEI's Family Office Services business, said:

"Investors expect a personalized wealth management experience tailored to meet their individual financial goals, and alternatives can play an important role in portfolio diversification. Family offices require solutions that help make alternatives data more accessible and accurate given the complex and historically manual nature of the ongoing data management process.

"SEI has been at the forefront of this trend, offering a client-centric approach to managing alternative assets that meet the industry's needs for more than 25 years. We are investing in solutions like the SEI Archway Platform and SEI Altigo Platform that further enhance the end-to-end alternatives investment experience. We're thrilled to expand our relationship with Canoe as we continue to deliver on our commitment to our clients."

The enhanced integration introduces a new data channel that makes it easier for SEI Archway Platform users to collect, aggregate, and analyze their alternative asset data. By leveraging the connectivity of these two platforms, mutual clients are able to:

• Automate fund and allocation-level data gathering: Streamlined extraction, validation, and delivery of fund and allocation-level data helps ensure accurate and reliable data is transmitted from Canoe to the SEI Archway Platform.
• Improve processing of alternative asset pricing and capital transactions: Automated processes reduce time spent on historically manual tasks, including inputting valuation data and booking capital calls and distributions, helping safeguard data integrity and reliability and improving workflow efficiency.
• Streamline alternative investment reporting processes: Readily available alternative asset data allows for enhanced investment activity, allocation, and performance reporting that are accurate, relevant, and on time.

Mike Muniz, Chief Revenue Officer at Canoe Intelligence, said:

"As family offices and wealth managers increase their allocations to alternatives, they need technology that paints a more detailed, accurate picture and provides greater control over investment document workflows. We're excited for this evolution of our strategic partnership with SEI as we work together to power the future of wealth by making alternative asset data more efficient and actionable."

Since the beginning of the strategic partnership, Canoe has processed more than 150,000 documents on behalf of SEI's clients and positioned 24 mutual clients to automate data transmission across more than 3,400 alternative investments. The integration is one of several alternative asset-specific features of the SEI Archway Platform focused on enhancing the user experience through reporting, operational efficiency, data connectivity, and integrations.

1 'The Future of Alternatives in 2027," Preqin, 2024.
2 "Global Family Office Report," UBS, 2024, pp. 10.

About SEI
SEI (NASDAQ:SEIC) delivers technology and investment solutions that connect the financial services industry. With capabilities across investment processing, operations, and asset management, SEI works with corporations, financial institutions and professionals, and ultra-high-net-worth families to help drive growth, make confident decisions, and protect futures. As of June 30, 2024, SEI manages, advises, or administers approximately $1.5 trillion in assets. For more information, visit seic.com.

About SEI's Family Office Services business
SEI's Family Office Services segment delivers technology and outsourced services that connect and power the accounting, investment management, and reporting functions of family offices and family office divisions of financial intermediaries. Designed to streamline family office operations and deliver advanced financial reporting for ultra-high-net-worth families, SEI's award-winning Archway PlatformSM and high-touch outsourced services efficiently handle complex partnership, portfolio, and corporate accounting alongside bill payment, investment management, and multi-asset class data aggregation. As of June 30, 2024, SEI Family Office Services has $630 billion in assets on its platform.* For more information, visit seic.com/archway.

* Assets on platform is not indicative of potential revenue.

About Canoe Intelligence

Canoe Intelligence (Canoe) is a financial technology company dedicated to advancing alternative investment intelligence for institutional investors, capital allocators, wealth managers, and asset servicing firms. Canoe empowers clients with technology, data, and insights to manage alternative assets more efficiently, accurately, and confidently. With a commitment to innovation and excellence, Canoe is redefining the future of alternative investment data management.

SOURCE SEI Investments Company