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November 15, 2021

SEI acquires portfolio intelligence platform firm Novus

By Verdict Staff

Turnkey asset management provider SEI has acquired portfolio intelligence platform company Novus Partners to bolster its capabilities for the institutional investor and investment management markets.

Financial terms of the deal were not disclosed.

Founded in 2007, Novus’ platform is designed to streamline data management, reporting, performance measurement, attribution and look-through analysis in a single digital tool.

The addition of Novus will bring data management and analytics capabilities SEI’s CIO platform.

Additionally, Novus’ global portfolio intelligence tool, newly branded as SEI Novus, will be integrated with SEI’s investment intelligence and processing capabilities

Leveraging Novus’ analytics tool for exposure, attribution and risk, the firm plans to offer a complete front-to-back-office solution, across all asset classes, to its large institutional investors and asset owners.

Commenting on the deal, SEI chairman and CEO Alfred West Jr. said: “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.

“By making strategic investments in our solutions and workforce, we drive growth and help our clients make confident decisions for their futures.”

Following the deal, 49 of Novus’ full-time employees will join SEI. The firm will continue to operate from its locations in New York, London, Austin and Zurich.

Novus CEO Andrea Gentilini said: “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,”

“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.”

In October this year, SEI bought investor lifecycle management firm Finomial, which specialises in cloud-native financial technology.

The firm also purchased Oranj’s cloud-native technology platform in this April.

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