New York-based Edgewood Management have increased their level of operational outsourcing given to Pennsylvania-based SEI.

SEI will now warehouse and process data for Edgewood’s institutional, private client and retail separate accounts, including: account administration, performance calculation and reporting, account and trade reconciliation and manager trade support.

“We’ve grown rapidly and SEI’s comprehensive solution allows us to scale very quickly. Additionally, teaming with SEI has demonstrated that we have an operating environment that can withstand investors’ increasing scrutiny…We’ve experienced significant growth, and by relying on SEI’s operational infrastructure, we’ve been able to meet that growth without undue business stress and the need to add more resources,” said Fausto Rotundo, chief financal officer of Edgewood Management.

Edgewood manage approximately $6.5 billion in a fully-invested large cap growth strategy. SEI's Investment Manager Services Division provides outsourcing to mutual funds, hedge and private equity funds, exchange traded funds, collective trusts, separately managed accounts and institutional and private client services.

Through its subsidiaries and partnerships SEI administers $360 billion in mutual fund and pooled assets, as at 30 June 2009.