The win further strengthens SEI's position as a leader in the alternative investment outsourcing space and in the larger operations outsourcing market in general. The deal also points to an emerging trend in the market as investment managers move away from specialised providers to outsourcing partners with diverse expertise and platforms that work across investment product lines.

Under the terms of the engagement SEI will provide a complete outsourced solution for all of Silver Creek's funds. SEI's services include fund accounting, administration and investor servicing. The company was selected following an extensive search that included some of the most notable service providers in the industry. SEI's expertise and reputation in the fund of hedge funds space, as well its ability to create a tailored and innovative solution to handle Silver Creek's sophisticated fund structures, were pointed to as key differentiators in the selection process.

"We are pleased to partner with SEI, a leader in the alternative investment outsourcing space," said LeAnne Kolb, Chief Financial Officer of Silver Creek Capital Management. "SEI's internal processes, people, and technology solutions, coupled with their ability to provide customised solutions for our product offerings, were the key differentiating factors in our decision to select SEI. Those attributes are invaluable to our organisation and our sophisticated investors as our funds continue to grow."

"SEI has positioned itself as a leader in the fund of hedge funds space, but more importantly we've demonstrated our outsourcing expertise -- regardless of investment product line," said Steve Meyer, Executive Vice President, SEI and Head of SEI's Investment Manager Services division. "We're focused on our clients' success by helping them anticipate and meet their emerging needs. We're proud to work with a firm of Silver Creek's stature and reputation and we look forward to partnering with them for years to come."