SEI Acquires Novus Partners
SEI has acquired Novus Partners, a global portfolio intelligence platform company. The deal is designed to expand SEI's capabilities for both the institutional investor and investment management markets.
"The financial services landscape is ever-evolving. Our markets continue to face an unprecedented pace of change, and we continuously seek opportunities to stay ahead of and manage this change," said Alfred P. West, Jr., SEI Chairman and CEO. "By making strategic investments in our solutions and workforce, we drive growth and help our clients make confident decisions for their futures."
"We identified a significant need among larger institutional investors for an end-to-end solution that provides enriched data and analytics. We believe the combination of SEI Novus' front-end analytics capabilities with our extensive middle- and back-office investment processing capabilities and knowledge of institutional markets ultimately delivers that solution," said Paul Klauder, Head of SEI's Institutional Group. "We welcome the Novus team to the SEI family and look forward to their contribution to our client offering and our company's growth."
Founded in 2007; following the acquisition, operations will continue in all four of Novus's current global locations (New York, London, Austin and Zurich), and 49 of Novus' full-time employees will join SEI.
"There is no better fit than SEI for Novus to accelerate its path. Like Novus, SEI has fintech roots and relationships with both asset owners and asset managers," said Andrea Gentilini, Chief Executive Officer at Novus. "Because SEI provides many of the crucial data that our clients rely on to consume analytics within Novus, we believe institutional investors will finally get the one-stop platform they've been craving. All of us at Novus are very excited for our clients and about what's to come."
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