SEI provides RiverFront with a fully-outsourced, customized solution centered on delivering automated business processes, account administration, reconciliation, and reporting.

SEI said that its relationship with RiverFront, its system connectivity to sponsor platforms, and proven ability to scale its solution to handle RiverFront’s significant growth were key factors in the decision process.

RiverFront COO Pete Quinn said RiverFront has been fortunate to have experienced significant growth over the past few years, and SEI has handled their evolving business needs.

"We’re pleased to extend our relationship with them and are confident in their abilities as an industry leade," Quinn said.

SEI is a provider of outsourced asset management, investment processing and investment operations solutions.

As of 30 September 2010, through its subsidiaries and partnerships in which the company has a significant interest, SEI administers $402bn in mutual fund and pooled assets and manages $164bn in assets.