Richmond (Va.) Jewish Foundation hired SEI Investments to handle its $30 million in assets, confirmed Dan Weintraub, executive director. The firm was recommended by the Capital Advisory Group, the foundation's investment consultant, Mr. Weintraub said. The foundation was managed by a brokerage firm, which Mr. Weintraub declined to name, that invested the assets in retail mutual funds.
"SEI was attractive because of its manager-of-managers style, and it worked with a variety of fund families," he said.
The Capital Advisory Group will continue to advise the foundation on its investment policy and provide evaluations of SEI products and services, Mr. Weintraub said.