SEI, which manages or administers $670 billion in mutual fund and pooled or separately managed assets, is providing Centerbridge Partners with a customized operating infrastructure and related services for the firm's private equity and credit businesses.
Centerbridge, which manages about $25 billion, said it intends to use additional SEI capabilities for its collateral management, treasury services and regulatory reporting.
"We chose SEI with an eye to the future because their operating solution has the flexibility to do what we need today and can also accommodate new funds and new strategies as we grow," said Jeffrey Gelfand, senior managing director and chief financial officer of Centerbridge, in a statement.
The partnership began in late 2015. Through the partnership, SEI is providing Centerbridge with a customized operating platform for Centerbridge's private equity and credit businesses.
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