SEI has announced the acquisition of Altigo, a cloud-based technology platform, marking a significant move to enhance its alternative investment offerings. The acquisition responds to growing investor interest in alternative investments and the need for streamlined investment processes.
Significant Move in Investment Technology
This is technology M&A deal number 338 that ChannelE2E and MSSP Alert have covered so far in 2023. See more than 2,000 technology M&A deals for 2023, 2022, 2021, and 2020 listed here.
SEI, founded in 1968, is based in Oaks, Pennsylvania. The company has 4,059 employees listed on LinkedIn. SEI’s areas of expertise include Investment processing, Fund processing, and Investment management.
Altigo, founded in 2019, is based in Richmond, Virginia. The company has at least 11 employees listed on LinkedIn. Altigo’s areas of expertise include open-network alts subscription technology built to enable secure electronic alternative investment transactions between asset managers, wealth advisors, custodians, and transfer agents.
Broadening Access to Alternative Investments
SEI's acquisition of Altigo is expected to drive growth and expand strategic opportunities in the alternatives space, according to the company. The deal is set against a backdrop of growing investor interest in alternative investments, as detailed in Prequin's "2022 Global Alternatives Report.”
The report typically provides an in-depth analysis of the global alternative investments sector, which includes asset classes like private equity, real estate, hedge funds, private debt, natural resources, and infrastructure.
SEI Acquires Altigo: Additional Insight
Ryan Hicke, CEO, SEI, commented:
"We sit at the center of the financial services industry, which positions us to connect all components of the ecosystem in a way that others can't. Our client footprint across financial intermediaries and fund sponsors—combined with the breadth of our capabilities across technology, operations, and asset management—gives us opportunities to transform private fund investing and widen access to alternative investment products for investors."
Kevin Crowe, senior vice president, SEI, added:
"Investor expectations for a personalized wealth management experience continue to drive the demand for investment flexibility, and alternatives can play an important role in a diversified portfolio that meets an investor's financial goals. This platform is built on the idea that investing in alternative securities could be made much more efficient and manageable using online technology tools and digital workflows."
About SEI
SEI is a provider of technology and investment solutions in the financial services industry, focusing on investment processing, operations, and asset management. As of September 30, 2023, SEI manages, advises, or administers approximately $1.3 trillion in assets.
