H.I.G. Capital Selects SEI for Fund Administration and Depositary Services

Rhea-AI Summary

SEI (NASDAQ:SEIC) was selected by H.I.G. Capital to provide fund administration and depositary services for certain Luxembourg- and Cayman-domiciled private equity and infrastructure assets, announced on October 8, 2025. H.I.G. manages $70 billion of capital and invests across multiple private markets strategies. SEI said its platform will automate workflows, reduce data replication, and improve transparency, leveraging local teams in Oaks, London, Dublin, and Luxembourg. SEI reported surpassing $1.5 trillion in alternative AUA in 2024 and ranks 6th of 164 in Luxembourg (Preqin, 21 Jul 2025).

Positive

• Selected to service H.I.G. private equity and infrastructure assets
• H.I.G. manages $70 billion in capital under management
• SEI reported $1.5 trillion alternative AUA in 2024
• Ranked 6th of 164 fund administrators in Luxembourg (Preqin)
• Operational centers in Oaks, London, Dublin, Luxembourg

Negative

• None.

Insights

Private Markets Operations Expert

SEI won a material fund administration and depositary mandate from H.I.G., signalling client-scale private markets capability.

SEI was selected by H.I.G. Capital, a firm with $70 billion of capital under management, to provide fund administration and depositary services for Luxembourg and Cayman-domiciled private equity and infrastructure assets. The agreement highlights SEI's cross‑jurisdictional operations (Oaks, London, Dublin, Luxembourg) and its reported scale in alternatives, including surpassing $1.5 trillion in alternative AUA in 2024 and a Luxembourg ranking of sixth by AUA.

The business mechanism is straightforward: SEI replaces or supplements in‑house/workflow processes to automate workflows, reduce manual entry and data replication, and provide consolidated data transparency. These are operational levers that directly lower processing duplication and improve reporting quality for a multi‑jurisdiction private markets program.

Key dependencies and risks derive from execution of the integration and ongoing service delivery; the release notes an onsite team that "alleviat[ed] the conversion pressures," which is a positive operational signal. Monitor the quality of the conversion, ongoing reconciliation accuracy, and the degree to which SEI delivers the promised single‑provider data consolidation for Luxembourg and Cayman vehicles.

Concrete items to watch: successful completion and stability of the conversion process referenced on Oct. 8, 2025, metrics on reduced replication or manual interventions (if disclosed by either party), and any expansion of the mandate across additional domiciles or strategies in the next 12–24 months. These items will indicate whether the contract drives the intended efficiency and scale benefits.

Global Strategic Partnership to Enable Operational Efficiency, Reduce Replication

LUXEMBOURG and DUBLIN, Oct. 8, 2025 /PRNewswire/ -- SEI^® (NASDAQ:SEIC) today announced that the company was selected by H.I.G. Capital (H.I.G.), a leading global alternative investments firm with $70 billion of capital under management, to provide fund administration and depositary services for certain Luxembourg and Cayman Island-domiciled private equity and infrastructure assets.

H.I.G. provides equity and debt capital to middle-market companies and has managed more than 400 companies worldwide. The firm's fund strategies include private equity, growth equity, real estate, direct lending, infrastructure, special situations debt, and growth-stage healthcare. SEI's infrastructure will enable seamless integration with H.I.G.'s existing platforms to automate workflows, reduce manual data entry, eliminate duplication, and enhance data transparency.

Commenting on the strategic partnership, Brendan Dolan, European Chief Financial Officer at H.I.G., said:

"SEI's global scale, broad operational and technology capabilities, expertise in fund administration and private markets, and local service all provide a significant competitive edge, and make them the ideal partner to support our strategic business goals. We're delighted to work with SEI to ensure greater operational efficiency and streamlined data management as we grow and continue to serve our limited partners."

Bryan Astheimer, Head of SEI's Investment Managers business for EMEA, added:

"Many firms are seeking a strategic partner with global private markets expertise and capabilities that help eliminate in-house data replication and improve efficiency. We're excited to partner with H.I.G., a firm that shares our commitment to delivering solutions that add strategic and operational value for clients.

"The seamless integration of H.I.G.'s infrastructure with SEI's platform was executed through our onsite team of experts, helping to alleviate the conversion pressures. SEI's solution provides full data visibility and transparency to help streamline workflows and enable long-term business scale. Through our local operational teams, decades of deep expertise in the private markets space, and experience servicing across major domiciles, we provide firms with quality, customised solutions that help them grow and better serve their clients."

According to SEI research, 58% of private market asset managers would prefer to work with a single fund administrator instead of multiple providers, and nearly two-thirds said the ability to reduce replication through improved data quality impacts their choice of provider.

SEI is ranked sixth out of 164 fund administrators in Luxembourg based on alternative assets under administration (AUA)¹. With operational centers in Oaks, PA, London, Dublin, and Luxembourg, SEI delivers a cohesive, integrated operational platform and client service model that provides clients with transparency into their data and day-to-day fund operations. The company partners with 45 of the top 100 asset managers worldwide* and in 2024 surpassed $1.5 trillion in alternative assets under administration in its Investment Managers business.

¹Preqin as of 21 July 2025.
*Based on Pensions & Investments' "Largest Money Managers" 2024 ranking.

About SEI^®
SEI (NASDAQ:SEIC) is a leading global provider of financial technology, operations, and asset management services within the financial services industry. SEI tailors its solutions and services to help clients more effectively deploy their capital—whether that's money, time, or talent—so they can better serve their clients and achieve their growth objectives. As of June 30, 2025, SEI manages, advises, or administers approximately $1.7 trillion in assets. For more information, visit seic.com.

About SEI's Investment Managers business
SEI's Investment Managers business provides advanced operating infrastructure for investment organizations of all types to evolve and compete in a landscape of escalating business challenges. SEI's global operating platform delivers customized and integrated capabilities across a wide range of investment vehicles, strategies, and jurisdictions to investment managers and asset owners. The company's services enable users to gain scale and efficiency, keep pace with marketplace demands, and run their businesses more strategically. For more information, visit seic.com/ims.

Company Contact:	Media Contact:
Alicia Rudd	Eric Hazard
SEI	Vested
+1 610-676-3887	+1 214-734-8203
arudd@seic.com	eric@fullyvested.com

View original content:https://www.prnewswire.com/news-releases/hig-capital-selects-sei-for-fund-administration-and-depositary-services-302578047.html

SOURCE SEI Investments Company

FAQ

What services will SEI provide to H.I.G. Capital under the October 8, 2025 agreement?

SEI will provide fund administration and depositary services for certain Luxembourg- and Cayman-domiciled private equity and infrastructure assets.

How much capital does H.I.G. Capital manage under the SEIC announcement?

H.I.G. is reported to manage $70 billion of capital under management.

How does the SEI–H.I.G. deal affect SEI's alternative assets under administration metric?

SEI reported surpassing $1.5 trillion in alternative AUA in 2024; the announcement notes the new mandate expands SEI's private markets footprint.

Where are SEI's operational centers that will support the H.I.G. conversion?

SEI cites operational centers in Oaks, PA; London; Dublin; and Luxembourg to support onboarding and operations.

What ranking does SEI hold in Luxembourg fund administration as of July 21, 2025?

SEI is ranked 6th out of 164 fund administrators in Luxembourg per Preqin as of July 21, 2025.

What operational benefits did SEI say the partnership provides to H.I.G. Capital?

SEI cited reduced manual data entry, elimination of data duplication, automated workflows, and improved data transparency.