SEI has been selected by ORIX Investment Corporation (OIC) to provide a complete back- and middle-office outsourcing solution for the firm's hedge-fund business.
Under the agreement, SEI will provide OIC with a full range of middle- and back-office services including fund accounting and administration, trade processing and administration, investment accounting, investor reporting, risk and attribution, and collateral-management services.
SEI will provide its services in a straight-through processing environment with an automatic reconciliation tool designed specifically for reconciling high transaction volumes with CTAs and brokerage firms.
"Having worked with SEI in the past, we know their technology and service are second to none and that made this decision easy," said Yuji Takenaga, senior vice president of OIC.
"Managers are increasingly becoming more comfortable in outsourcing key middle-office functions to us as they realize how our technology and operational best practices can drive automation, reduce risk, and enable greater transparency," said Philip Masterson, senior vice president and managing director, SEI's Investment Manager Services division.
