US-based investment processing solutions provider SEI has bought Archway Technology Partners, a local technology provider, to bolster its foothold in family office space.

Indianapolis, Indiana-based Archway provides solutions to meet the accounting, investment management and reporting functions for family offices, private banks, private wealth advisors as well as fund administrators.

Go deeper with GlobalData

Data Insights

The gold standard of business intelligence.

Find out more

The acquired firm has offices in Denver and New York, apart from its Indianapolis base. It employs 125 staff and manages $230bn on its platform.

SEI will pay $80m for the deal, in addition to growth earn-outs of up to $8m depending on financial targets, SEI said in a filing with the U.S. Securities & Exchange Commission.

The company will now be integrated into SEI’s Investment Managers business segment

SEI said that the acquisition will expand its footprint in the family office segment, and will help it cater to additional verticals such as institutions, investment advisers, private banks, hedge funds, and private equity funds.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

SEI executive vice president and investment manager services division head Steve Meyer said: “Archway’s specialized technologies and deep knowledge of the private wealth services industry give us a more powerful, differentiated solution to a $7 trillion global family-office market that has been underserved by legacy service providers.

“SEI’s operating solutions, enhanced by Archway’s capabilities, will help family offices, institutions, wealth managers, and asset owners better navigate this new operational frontier and service their clients more effectively.”

SEI chairman and CEO Alfred West, Jr. added: “Archway’s stellar reputation in the family office industry, market-leading solutions, and talented, client-oriented employees make them a valuable addition to SEI, and we look forward to welcoming the Archway team into our culture and company.”