Issue link: https://read.uberflip.com/i/1494922
PROPOSAL OF SERVICES FOR PURCHASE COLLEGE FOUNDATION | Page 1 Additional information: Firm overview and due diligence Please provide additional details on the history of your firm, including the development, structure, and growth of your OCIO business. For over 30 years, SEI's Institutional Group has provided OCIO services, a customized, total solution approach to asset management. We manage $79.1 billion in assets for endowments and foundations, governments, corporate retirement plans, unions, and healthcare systems. In total, 329 professionals support our OCIO solution. SEI was one of the largest institutional consultants to clients in both the U.S. and Canada by the late 1980s. Capitalizing on the knowledge and experience gained from providing manager search services in the consulting business, we began to offer a multi-manager investment implementation in 1990. In 1992, in response to our clients' needs, SEI introduced our current comprehensive and fully integrated OCIO solution. In 1994, we made the decision to divest our traditional nondiscretionary consulting business to eliminate conflicts between our OCIO solution clients and consulting clients. When we decided to focus exclusively on providing OCIO services, we divested the consulting portion of our business in order to avoid internal conflicts related to manager access and employee focus. At the highest level, there were concerns regarding which direction our strategic focus, energy, marketing, and investment dollars should be directed and how resources would be allocated. In the course of day-to-day management, additional challenges arose, such as determining which clients would have access to a skilled manager that was available but had limited capacity. Ultimately, the decision was made to offer our clients an OCIO model and have a united vision for our business going forward. This divestiture better aligned our resources and goals with those of our OCIO solution clients. Our parent company, SEI Investments Company (SEIC), was founded in 1968 by Alfred (Al) P. West, Jr., who was the Chairman of the Board of Directors and Chief Executive Officer (CEO) of SEIC until June 2022. On June 1, 2022, Executive Vice President and Chief Information Officer Ryan Hicke became our company's next CEO and a member of the Board of Directors, and Al West transitioned to the role of Executive Chairman. SEIC is a diversified, global finance and technology company that manages, advises, or administers approximately $1.2 trillion in assets and has over 4,700 employees worldwide. SEIC provides solutions to banks, institutional investors, investment managers, financial advisers, high net worth individuals, emerging businesses and information technology firms. The company's headquarters are located in Oaks, PA, a suburb of Philadelphia. SEI Investments Management Corporation (SEI) is a wholly owned subsidiary of SEIC that provides investment management and advisory services and is a federally registered investment adviser with the Securities and Exchange Commission (SEC) under the Investment Advisers Act of 1940, as amended. SEI's Institutional Group is an award- winning OCIO and provides investment management and advisory services, the core of this proposal, through SEI.