SEI Investments to Sell Its Family Office Service Business to Aquiline

Core Viewpoint - SEI Investments Co. has agreed to divest its Family Office Service operations to Acquiline Capital Partners for $120 million, aligning with its strategy to focus on higher growth areas and enhance profitability [1][4]. Group 1: Details of the Divestiture - SEI's Family Office Services business provides technology and outsourced solutions for family offices and financial intermediaries through the Archway Platform, which integrates accounting, investment management, and reporting functions [2]. - The family office business will continue to operate as Archway post-transaction, with employees from SEI's Indianapolis, Denver, and Oaks offices transitioning to Aquiline [3]. - The deal is expected to be completed in late Q2 2025, pending regulatory approvals [3]. Group 2: Strategic Implications - Sandy Ewing, Head of SEI's Family Office Services, emphasized the commitment to invest in growth areas, highlighting past investments in the family office segment [4]. - SEI has recently launched depository services for Luxembourg alternative investment funds and acquired LifeYield to improve multi-account tax management [4]. Group 3: Market Performance - SEI Investments' shares have increased by 17.5% over the past six months, outperforming the industry growth of 11.3% [6].