This Day On The Street
Continue to site right-arrow
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

SEI Selected By Granite Investment Partners To Provide Comprehensive Middle- And Back-Office Outsourcing

Stocks in this article: SEIC

OAKS, Pa., Aug. 15, 2011 /PRNewswire/ -- SEI (NASDAQ: SEIC) today announced that it has been selected by Granite Investment Partners to provide a complete back- and middle-office outsourcing solution for the firm's separate accounts. With the recent expansion of Granite's investment capabilities through the addition of 9 new investment professionals, the firm needed greater processing depth and power.  Granite sought to outsource its back- and middle-office functions as a means of expanding its infrastructure without tying up critical internal resources.

"We brought on a well-regarded new team of managers who brought with them a large and diverse client base – and our infrastructure had to scale quickly to support that growth," said Geoff Edelstein, Principal and Portfolio Manager of Granite Investment Partners. "We chose to outsource because we wanted to be able to focus on managing investments and satisfying our clients instead of worrying about whether we have the best operations platforms in place or building out our back-office infrastructure. We chose SEI because of its expertise in this area and because it's done this successfully more than anyone in the industry."  

"When it comes to operations, outsourcing is no longer the exception, it's the rule," said John Alshefski, Senior Vice President, SEI's Investment Manager Services division. "Whether they are growing or just starting out, today's firms would rather focus on their business growth and not their operational growth.  At SEI, we've spent a tremendous amount of time and resources ensuring our platform and our processes provide the flexibility, the scalability, and the quality that our clients need regardless of their business model. Granite is growing rapidly and wanted to avoid the typical operational growing pains - our goal is to give them the infrastructure and stability they need to handle long-term future growth."

Under the agreement, SEI will provide Granite with a full range of services for the firm's separate accounts, including account administration, trade processing, account and trade reconciliation, performance calculation and reporting, investment accounting, manager trade support, daily and month-end performance measurement, and end-client reporting and billing. Granite will receive comprehensive data management, performance, and risk reporting for all middle-office services provided by SEI.  SEI's deep experience across asset classes and investment vehicles and the company's proven track record of outsourcing success were pointed to as key factors in the decision-making process.

1 of 2

Select the service that is right for you!

Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!


DOW 17,823.90 +45.75 0.26%
S&P 500 2,077.09 +15.86 0.77%
NASDAQ 4,780.7690 +32.3730 0.68%

Brokerage Partners

Rates from

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs