SEI will provide fund administration, accounting, investor servicing, and Irish trustee and custody services for Iridian Asset Management’s Irish-registered UCITS Fund.
Connecticut-based Iridian is independently owned and manages over $11 billion in assets for institutional investors. In the coming months, Iridian plans to expand its focus to the U.S. Defined Contribution retirement plan market and provide a suite of Collective Investment Trust (CITs) in partnership with SEI Trust Company.
“When we decided to launch our U.S. Equity Fund in multiple non U.S. markets we wanted to find a single, strategic outsourcing partner with the experience and solutions necessary to meet our diverse needs,” says Colin Morris, director of Marketing and Client Service of Iridian. “The UCITS structure was a critical part of the decision, but it ultimately came down to SEI’s proven platform and expertise across fund strategies and structures. SEI gave us a single platform that will quickly bring our funds to market in Europe without having to build out our own back-office processes. We look forward to partnering with SEI on this and future initiatives.”
“Iridian is a good example of a successful manager casting a wider net by focusing on a strategy and then distributing it in multiple channels. By turning to UCITS, Iridian is extending its strategies throughout Europe,” says John Alshefski, senior vice president of SEI’s Investment Manager Services division. “To take full advantage of these multiple distribution opportunities, it’s important for managers to understand the challenges and implications affecting their infrastructure and regulatory requirements.”
SEI Appointed By Iridian for Irish-Registered UCITS Fund
SEI will provide fund administration, accounting, investor servicing, and Irish trustee and custody services for Iridian Asset Management’s Irish-registered UCITS Fund.
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