SEI Investments Co. SEIC has agreed to divest its Family Office Service operations to Acquiline Capital Partners LP (Acquiline) for $120 million.
SEIC’s Family Office Services business offers technology and outsourced solutions that integrate accounting, investment management and reporting functions for family offices and financial intermediaries through the Archway Platform. The Archway Platform is designed to streamline family office operations and deliver advanced financial reporting for ultra-high-net-worth families.
The family office business will continue to operate as Archway upon completion and under the terms of the transaction, employees based in SEI’s Indianapolis, Denver and Oaks offices, including key members of the leadership team, will transition to Aquiline along with the business.
The deal is anticipated to be completed in the late second quarter of 2025, subject to requisite regulatory approvals.
Sandy Ewing, Head of SEI Investments' Family Office Services business, stated, “As part of SEI's broader growth strategy, we're committed to investing in the areas of our business where we believe we can drive growth, and for more than seven years, we've made substantial investments in the solutions and capabilities we deliver for the family office segment.”
This move aligns with SEIC’s efforts to deploy its capital to boost profitability. The company has been focusing on higher growth areas. Last month, it rolled out depository services for Luxembourg alternative investment funds. In December 2024, the company acquired LifeYield to enhance its multi-account tax management.
Shares of SEI Investments have risen 17.5% compared with the industry’s 11.3% growth in the past six months.
Image Source: Zacks Investment Research
Currently, SEIC carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank stocks (Strong Buy) here.
Earlier this week, State Street Corp. STT announced the restructuring of the nearly 20-year-old European component of the International Financial Data Services (“IFDS”) LP joint venture arrangement in Luxembourg and Ireland with SS&C Technologies Holdings, Inc. SSNC.
STT will integrate the transfer agency services capabilities for its clients, while SS&C Technologies will rebrand the existing transfer agency entities in Ireland and Luxembourg, integrating them into its Global Investor & Distribution Solutions division as a wholly-owned business.
Similarly, in January 2025, The Bank of Nova Scotia BNS, or Scotiabank, agreed to transfer its banking operations in Colombia, Costa Rica and Panama to Davivienda. Further, Mercantil Colpatria will divest its stake in Scotiabank Colpatria in Colombia as part of the deal.
The deal will be neutral to BNS’ capital with a potential increment to earnings in the upcoming years, with an enhanced simplification of the business operations. At closing, the company’s common equity tier one ratio is estimated to increase 10-15 basis points on the back of a reduction in risk-weighted assets.
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
State Street Corporation (STT) : Free Stock Analysis Report
SS&C Technologies Holdings, Inc. (SSNC) : Free Stock Analysis Report
Bank of Nova Scotia (The) (BNS) : Free Stock Analysis Report
SEI Investments Company (SEIC) : Free Stock Analysis Report
This article originally published on Zacks Investment Research (zacks.com).
Zacks Investment Research
免責聲明:投資有風險,本文並非投資建議,以上內容不應被視為任何金融產品的購買或出售要約、建議或邀請,作者或其他用戶的任何相關討論、評論或帖子也不應被視為此類內容。本文僅供一般參考,不考慮您的個人投資目標、財務狀況或需求。TTM對信息的準確性和完整性不承擔任何責任或保證,投資者應自行研究並在投資前尋求專業建議。