Kinetics Advisers has selected SEI Investments to oversee an offshore hedge fund, as the new regulatory situation has forced many managers to opt for larger administrators, the companies jointly announced.

SEI will be providing Kinetics with administration, accounting and investor services.

"We looked at all of the top-tier administrators, and chose SEI based on their combination of accounting and regulatory and compliance expertise as well as their global reach," said Leonid Polyakov, managing director and co-founder of Kinetics Advisers. "Their team brings a unique combination of industry expertise and technology support that is ideal for us and our investors as we continue to expand."

"Kinetics has had tremendous success and we're pleased to be their outsourcing partner," said John Alshefski, head of new business development for SEI's investment manager services unit. "As the regulatory environment becomes more complex, we're seeing hedge fund clients look for partners with significant credibility and resources. SEI's comprehensive services allow us to fill that role and provide an additional level of confidence to our clients and their investors."

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