The alliance of SEI, a provider of outsourced asset management, investment processing and investment operations applications, and Leumi Group, Israel’s leading financial group, has raised more than $500 million in assets since its launch in June 2004.
The alliance — Leumi Global Managers (LGM) — combines Leumi’s client relationship expertise and distribution network with SEI’s experience in building manager-of-managers investment applications.
That has given Leumi’s clients access to some of the world’s top managers through SEI’s sophisticated proprietary investment framework for assessing markets and sourcing managers, the alliance said in a statement.
“Strategic alliances are a core part of SEI’s global business and we are delighted with the success of our relationship with Leumi,” says Joseph Ujobai, head of Global Private Banking at SEI. “The amount of assets raised here demonstrates that demand for manager-of-managers solutions remains strong and is increasing. As a testament to this trend, the latest addition to the fund range for Leumi clients, LGM Enhanced Yield Fund, has raised over US $100 Million assets in just six months since launch. This is a great achievement and reflects Leumi’s proactive approach to recognizing and responding to client demand.”