SEI Picks up the Scraps of Fintech Analyzer Platform Novus
Posted on 11/13/2021
SEI inked a deal to acquire Novus Partners, Inc. (Novus), a global portfolio intelligence platform company, designed to expand SEI’s capabilities for both the institutional investor and investment management markets. Founded in May 2007 by Basil Qunibi, Novus started out tracking the holdings of hedge fund portfolios and then expanded to other investor types. Novus works with more than 140 clients. 49 of Novus’ full-time employees will join SEI. Prior to founding Novus, Basil Qunibi was a member of the long/short equity team at Ivy Asset Management.
In June 2013, Bain Capital Ventures, the venture arm of Bain Capital, and Index Ventures, made an investment in Novus. At that time, Novus had around 100 employees. Novus’ two largest office are in Austin and New York.
SEI’s Institutional Group provides institutional investors with outsourced investment management services and custom platforms to support insourced investment staffs.