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 also be offered comprehensive data management, performance, and risk reporting for all middle-office services provided by SEI.
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Granite Investment Partners principal and portfolio manager Geoff Edelstein said they chose to outsource because they wanted to be able to focus on managing investments and satisfying their clients instead of worrying about whether they have the best operations platforms in place or building out their 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," Edelstein said.
John Alshefski, senior vice president, SEI’s Investment Manager Services division, said at SEI,they’ve spent a tremendous amount of time and resources ensuring their platform and processes provide the flexibility, the scalability, and the quality that their 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," he added.
