Aquiline to buy SEI’s Family Office Services business for $120m

Private equity firm Aquiline has agreed to purchase the Family Office Services business from SEI for $120m.

The acquired business, with $723bn in assets as of 31 December 2024, provides technology and outsourced services.

These integrate accounting, investment management and reporting functions for family offices as well as financial intermediaries via the Archway Platform.

The Archway Platform is said to offer “advanced” financial reporting for ultra-high-net-worth families.

The acquired business will operate as Archway, with its staff from SEI’s offices in Indianapolis, Denver, and Oaks set to join Aquiline. The core leadership team will also move to the newly formed Archway.

SEI Family Office Services business head Sandy Ewing said: “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.”

Aquiline managing partner Vincenzo La Ruffa said: “The Archway Platform has long been the premier provider of accounting and reporting software solutions to family offices across the country.

“Its powerful general ledger engine can support the most complex families, and we are excited to further invest and extend the platform.”

The deal is anticipated to be finalised in the late second quarter of 2025, pending regulatory approval and other standard closing conditions.

Morgan Stanley was financial advisor to Aquiline, while Ropes & Grayprovided legal counsel. Holland & Knight was the legal counsel to SEI.

Aquiline, which manages approximately $11.3bn in assets as of 30 September 2024, has invested around $7bn across private equity, venture, and credit strategies.

In July 2024, it agreed to sell Quintes Holding to Brown & Brown.