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Arrow Global Selects SEI as a Strategic Growth Partner

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Breadth of Global Offering Enables Customization and Business Transformation for Private Credit Funds

OAKS, Pa. and LUXEMBOURG, Nov. 29, 2024 /PRNewswire/ — SEI® (NASDAQ:SEIC) today announced that Arrow Global Group Limited (Arrow Global), a leading European alternative asset manager specializing in private credit and real estate, selected SEI to support its fund administration, loan operations, and investor services for its private credit fund domiciled in Luxembourg. Ranked seven out of 129 fund administrators in Luxembourg based on AUA,1 SEI is the largest fund administrator for private market funds in Luxembourg that are managed by a U.S. firm2 and the largest private credit fund administrator by assets globally.3

As the demand for private credit continues to grow, alternative asset managers are seeking providers to solve complex operational challenges by streamlining processes, increasing investor transparency, and supporting their global operational footprints.  

Meera Savjani, Fund CFO for Arrow Global, commented on their decision to partner with SEI:

“We’re committed to delivering strong risk-adjusted returns for our investors, and having transparency into data is key to maintaining our investors’ confidence in that commitment. SEI’s technology provides the robust and scalable solutions that are customised based on our needs—helping us elevate our business through a streamlined onboarding process, increased data insights and transparency, and efficient processes.

“SEI’s track record in private credit and their expertise across all alternative strategies, asset classes, and jurisdictions support our ability to serve our clients, scale our business, and achieve our growth ambitions.”  

Bryan Astheimer, Head of SEI’s Investment Managers Business, EMEA, added:

“We are thrilled to partner with Arrow Global and support their strategic growth. An important element of transformation is bringing employees along the journey, and we worked closely with Meera and the Arrow Global team to communicate and integrate new processes into their workflow and products.

“As access to the alternatives market continues to expand, asset managers like Arrow Global are looking to meet investor demand through technology and operational solutions that are tailored to their needs and increase efficiency. Our 30 years of experience in the European market, global operational footprint, and breadth and depth of expertise provide asset managers with the stability and personalisation that help drive success.”

With operational centers in Oaks, PA, London, Dublin, and Luxembourg, SEI delivers a cohesive, integrated operational platform and client service model that provides clients with transparency into their data and day-to-day fund operations. Since establishing operations in the region three years ago, SEI has ranked among the top two largest fund administrators for private credit funds in Luxembourg.4 SEI recently surpassed $1.5 trillion in alternative assets under administration in its Investment Managers business.

1 Preqin as of Sept. 3, 2024.
2 Preqin data based on AUA as of Sept. 3, 2024.
3 Preqin as of Jan. 31, 2024.
4 Preqin as of Sept. 3, 2024. Based on AUA and exclusion of bank administrators.

About SEI®
SEI (NASDAQ:SEIC) delivers technology and investment solutions that connect the financial services industry. With capabilities across investment processing, operations, and asset management, SEI works with corporations, financial institutions and professionals, and ultra-high-net-worth families to help drive growth, make confident decisions, and protect futures. As of Sept. 30, 2024, SEI manages, advises, or administers approximately $1.6 trillion in assets. For more information, visit seic.com.

About SEI’s Investment Managers business        
SEI’s Investment Managers business provides advanced operating infrastructure for investment organizations of all types to evolve and compete in a landscape of escalating business challenges. SEI’s global operating platform delivers customized and integrated capabilities across a wide range of investment vehicles, strategies, and jurisdictions to investment managers and asset owners. The company’s services enable users to gain scale and efficiency, keep pace with marketplace demands, and run their businesses more strategically. SEI partners with more than 320* traditional asset managers, alternative managers, and sovereign wealth managers, including 43 of the top 100 asset managers worldwide.** For more information, visit seic.com/ims.

*Does not include family office clients.
**Based on Pensions & Investments’ “Largest Money Managers” 2023 ranking.

Company Contact: 

Media Contact:

Emily Baldwin                                                                                     

Amelia Graham

SEI                                                                                                       

Vested

+1 610-676-3262                                                                               

+44 (0)7393 477 057

ebaldwin@seic.com                                                                                   

amelia@fullyvested.com

 

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SOURCE SEI Investments Company

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The Government of Canada Launches Call for Proposals for the Offshore Wind Indigenous and Coastal Communities Grant Funding

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November 29, 2024

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HALIFAX, NS, Nov. 29, 2024 /CNW/ – The Government of Canada recognizes the tremendous economic opportunity presented by offshore wind development.

Today, the Honourable Jonathan Wilkinson launched an open call for proposals for grant funding to support Indigenous and coastal communities in Nova Scotia and Newfoundland and Labrador in their pursuit of opportunities related to offshore wind development. Grants will provide up to $10,000 in funding per recipient per year until March 31, 2027.

The funding will support Indigenous and coastal communities in accessing technical support to carry out engagement activities with the offshore wind energy industry, regulators and governments. These grants will support engagement on offshore wind by funding community meetings and workshops, as well as facilitating services so that communities can meaningfully engage with the offshore wind industry.

Applications for this open call for proposals will be accepted until December 18, 2024. More information on eligibility and how to apply can be found on the Offshore Wind Predevelopment Program webpage. 

Quote

“This government is seizing the generational economic opportunity presented by offshore renewable energy through legislation and funding. This will mean more jobs and investments in Nova Scotia and Newfoundland and Labrador — and we want to make sure that communities are well positioned to take advantage of the opportunities that will best benefit them. That is why we are launching a call for proposals under the Offshore Wind Indigenous and Coastal Communities Grant, which will provide people in both provinces with the engagement opportunities they want and deserve. This will help ensure responsible, efficient and democratic development of the offshore wind industry in Atlantic Canada.”

The Honourable Jonathan Wilkinson
Minister of Energy and Natural Resources

Quick Facts

The program’s next call for proposals will occur in spring 2025.The Offshore Wind Indigenous and Coastal Communities Grant Funding is part of Natural Resources Canada’s Offshore Wind Predevelopment Program, which aims to help support the conditions necessary for developing Canada’s offshore wind energy off the coasts of Nova Scotia and Newfoundland and Labrador.The Offshore Wind Predevelopment Program received funding of $61.4M through Budget 2023, a significant investment in the responsible and efficient development of offshore wind energy in Atlantic Canada.

Related Information

The Offshore Wind Predevelopment ProgramBill C-49: An Act to amend the Canada–Newfoundland and Labrador Atlantic Accord Implementation Act and the Canada-Nova Scotia Offshore Petroleum Resources Accord Implementation Act receives Royal AssentBuilding Offshore Renewables in Newfoundland and Labrador and Nova ScotiaGovernments of Canada and Nova Scotia launch regional assessment to support future decisions on offshore wind projects in the provinceThe Offshore Renewable Energy Regulations InitiativeCanada Offshore Renewable Energy Regulations

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SOURCE Natural Resources Canada

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Hinduja Tech Completes TECOSIM Group Acquisition, Further Extending Its Global Automotive Engineering Reach

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27 minutes ago

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November 29, 2024

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CHENNAI, India, Nov. 29, 2024 /PRNewswire/ — Hinduja Tech Limited, a mobility-focused global engineering and R&D technology company that is a subsidiary of Ashok Leyland, today announced the completion of its acquisition of TECOSIM Group, a leading European engineering services provider. This acquisition, expanding its presence in the European market, marks a significant milestone for Hinduja Tech, taking a decisive step towards its vision to be among the top 10 global mobility engineering and R&D companies. The strategic move highlights Hinduja Tech’s ongoing commitment to enhancing its global automotive engineering market leadership. This will provide operational efficiencies, increased competitiveness, and a stronger global market presence. This acquisition reinforces Hinduja Tech’s vision of becoming a global leader in sustainable mobility solutions.

TECOSIM Group, renowned for its cutting-edge virtual validation and body engineering expertise, brings in considerable depth of innovation and talent to the Hinduja Tech family. Combining TECOSIM’s deep experience with Hinduja Tech’s proven track record, the Hinduja Tech Group will offer a comprehensive suite of services, from advanced technology innovation to leading systems integration. This partnership will empower Hinduja Tech to deliver a broader range of solutions, catering to the global mobility industry’s ever-evolving needs and ensuring more comprehensive and competitive services are available to the customers via its unique global delivery model.

Mr. Kumar Prabhas, CEO of Hinduja Tech Limited, said, “We are delighted to have TECOSIM Group join the Hinduja Tech family. This reinforces our unwavering commitment to innovation and growth. TECOSIM Group’s virtual validation and body engineering expertise perfectly complements our existing capabilities, allowing us to offer a comprehensive range of solutions. Together, we will drive the future of automotive engineering and shape the contours of the global mobility landscape.”

Mr. Udo Jankowski, Managing Director of the TECOSIM Group, echoed this sentiment: “Joining forces with Hinduja Tech is a game-changer for TECOSIM. Their global reach and industry expertise, coupled with our technical strengths, create a winning combination. We are excited to embark on this journey, delivering exceptional value to our clients and driving technological advancements in the global mobility value chain.”

This acquisition significantly expands Hinduja Tech’s global footprint, solidifying its presence in Europe and positioning itself for further growth. TECOSIM’s strong foothold in Europe gives Hinduja Tech a broader geographic reach and opens new avenues for growth, including serving a more diverse customer base across Europe and beyond. With over 650 employees spread across the UK, Germany, Romania, Japan, and India, TECOSIM will bring a wealth of expertise and innovative solutions. Hinduja Tech will leverage its enhanced capabilities to address the automotive industry’s complex challenges, delivering innovative solutions that drive efficiency, sustainability, and performance.

About Hinduja Tech:

Hinduja Tech, part of the multi-billion-dollar Hinduja Group, is the integrated Product Engineering and Digital Technologies Solutions provider for the mobility industry. As a partner of choice, Hinduja Tech works with leading automotive organizations (OEMs & Tier-X Suppliers) and disruptive mobility players in North America, Europe, APAC, and India. To learn more about Hinduja Tech, visit www.hindujatech.com

Hinduja Group has a presence in over 38 countries and employs about 200,000 people with multiple industry verticals like Mobility, Lubricants & Specialty Chemicals, Banking & Finance, Digital Technology, Energy, Media & Entertainment, Realty, Healthcare, Project Development and Trading.

About TECOSIM Group:

TECOSIM Group, headquartered in Wiesbaden, Germany, is a globally active engineering company renowned for developing technological solutions that promote sustainable transport, safe and clean energy supply, and a competitive industrial landscape. Started as a German engineering company, the TECOSIM Group has now earned an exceptional reputation in Europe, Asia, and the USA through its global expansion and is known for its expertise in simulation, testing, and engineering services, catering to a diverse range of industries including automotive, energy, and industrial sectors.

Photo – https://mma.prnewswire.com/media/2570122/Hinduja_Tech.jpg
Photo – https://mma.prnewswire.com/media/2570123/Hinduja_Tech_2.jpg

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SOURCE Hinduja Tech

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RADIN Health® Reaches Major Achievement + Executes Partnership Agreement with Ikonopedia®

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27 minutes ago

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November 29, 2024

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SHERIDAN, Wyo., Nov. 29, 2024 /PRNewswire/ — RADIN Health®, a leading forward thinking MedTech company, announces a major milestone in its corporate trajectory with the launch of its AI-powered All-In-One SaaS solution, designed to revolutionize imaging centers, radiology departments and radiology practices.

Radin is pleased to announce Total Medical Imaging (TMI), a distinguished leader in comprehensive teleradiology interpretation, has successfully transitioned from Sepstream PACS to the RADIN platform. TMI, renowned for its team of 50 subspecialized radiologists, interprets over 50,000 diagnostic studies monthly for healthcare institutions globally.

Leveraging RADIN’s all-in-one, cloud-based solution suite — RADIN PACS, RADIN Dictation AI®, and RADIN Select®—TMI has achieved significant improvement in radiologist workflow efficiency, company productivity and has reduced operational expenditures.  Manual processes have been eliminated, radiologist dictation times have been cut 50%, and automated study orchestration has improved client study turnaround times.  Innovative provider communication tools, like embedded voice-over-IP, provider portal, AI-driven features, such as automatic impressions and identification of critical findings, and peer review have enhanced communication, collaboration and client satisfaction. As an AWS web-based, serverless and secure application that can be easily scaled, TMI clients login into RADIN via a web browser, from anywhere, anytime.

RADIN Health® is also announcing a strategic partnership with Ikonopedia®, a leader in breast imaging reporting and tracking solutions. This collaboration aims to integrate Ikonopedia’s advanced, cloud-based breast imaging reporting system with the RADIN®platform.  By combining these technologies, the partnership seeks to enhance radiologists’ workflow efficiency, improve diagnostic accuracy, and elevate patient care. Ikonopedia® provides a complete breast reporting suite that is BI-RADS® compliant using a lesion-specific closed-loop technology to ensure each area of concern is followed to complete resolution. Ikonopedia was started by internationally recognized breast health radiologists Dr. László Tabár, Dr. Tom Stavros, and Dr. Michael Vendrell.

RADIN® HEALTH is a pioneering MedTech company focused on developing SaaS products that enhance the efficiency, productivity, and scalability of imaging centers and radiology practices. Utilizing artificial intelligence (AI), machine learning (ML), and natural language processing (NLP), Radin Health offers an all-in-one RIS, PACS, Dictation AI®, and Select® workflow solution. For more information, visit www.radinhealth.com or see us at RSNA 2024 for a demo at booth 2971.

Please visit Ikonopedia® at booth 1408 and for more information on Total Medical Imaging visit TMI.

View original content to download multimedia:https://www.prnewswire.com/news-releases/radin-health-reaches-major-achievement–executes-partnership-agreement-with-ikonopedia-302318965.html

SOURCE Radin LLC

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