SEI Survey: Investors Demand Greater Transparency, Communications from Private Equity Managers

Institutions Remain Committed to Private Equity for Return Potential, Diversification

DUBAI, United Arab Emirates, December 7 - Institutional investors remain committed to private equity investing, but
seek greater portfolio transparency and higher quality reporting from
managers amid growing liquidity and performance concerns, according to a
survey report released today by SEI (Nasdaq: SEIC). In a report on the
survey's findings, SEI asserts that private equity managers who standardise
and institutionalise transparency practices will be most likely to retain and
capture assets because they will create efficiencies while delivering a more
consistent and enhanced client experience.

The survey, which was completed by senior investment professionals at 51
organisations ranging in size from less than euro 330 million (US $500
million) to more than euro 13 billion (US $20 billion) in assets, revealed
that more than 90 percent of institutions polled planned to either increase
or maintain their allocations to private equity in the coming year. The
majority of those polled still see private equity as a viable source for
potential return (73 percent) or as source for diversification (69 percent)
despite the fact that private equity activity has remained sluggish this
year, while the public markets have rallied sharply. Most participating
organisations were foundations, endowments, or public pension funds.

"Private equity fundraising has stalled for the past 18 months, but the
good news for managers is that institutions remain firmly committed to the
asset class," said Phil Masterson, Managing Director for SEI's Investment
Manager Services division. "With that said, investors do have concerns — and
these concerns aren't transitory, but rather represent an evolution in
investor expectations. Investors are seeking transparency of holdings,
valuation methodology, and investment processes, as well as more
comprehensive, timely, and independent reporting. While managers may not need
to provide the same level of transparency to all clients, they will need to
instill best practices across their business in order to attract and retain
institutional assets."

Not surprisingly, in the wake of the recent global financial crisis,
liquidity risk was cited as a primary concern by the majority of investors
(62 percent) followed by poor performance, both absolute and relative (58
percent).

When rating the criteria most important in selecting a private equity
manager, the top three responses were quality of management team, clarity of
investment philosophy, and sector expertise. The next three most important
selection criteria were compliance infrastructure, portfolio transparency,
and quality of reporting and communications — demonstrating the increased
emphasis institutions are placing on transparency. Underscoring the point is
the fact that those criteria rated significantly higher in importance than
investment performance and fees. The survey also points to the changing
expectations of institutional investors in the wake of the recent financial
crisis and increased regulatory scrutiny.

The report is published by the SEI Knowledge Partnership, which provides
ongoing business intelligence to SEI's investment manager clients. To request
a full copy of the report, please visit www.seic.com/PEResearch.

About SEI's Investment Manager Services Division

SEI's Investment Manager Services division provides total operations
outsourcing solutions to global investment managers focused on mutual funds,
hedge and private equity funds, exchange traded funds, collective trusts,
separately managed accounts and institutional and private client services.
The division applies operating services, technologies, and business and
regulatory knowledge to each client's business objectives. Its resources
enable clients to meet the demands of the marketplace and sharpen business
strategies by focusing on their core competencies. The division has been
recognised by Buy-Side Technology as "Best Fund Administrator" and by HFMWeek
as "Best Funds of Hedge Funds Administrator." To learn more about SEI's
private equity services, visit www.seic.com/enUK/im/1312.htm.

About SEI

SEI (Nasdaq: SEIC) is a leading global provider of outsourced asset
management, investment processing and investment operations solutions. The
company's innovative solutions help corporations, financial institutions,
financial advisors, and affluent families create and manage wealth. As of
September 30, 2009, through its subsidiaries and partnerships in which the
company has a significant interest, SEI administers US$383 billion in mutual
fund and pooled assets and manages US$156 billion in assets. SEI serves
clients, conducts or is registered to conduct business and/or operations,
from numerous offices worldwide. For more information, visit www.seic.com.

Services provided by SEI Investments - Global Fund Services Limited (Reg.
in Dublin No. 424309), SEI Investments Trustee & Custodial Services (Ireland)
Limited (Reg. in Dublin No. 315393), and their affiliates, which are all
wholly owned subsidiaries of SEI Investments Company.

SEI Investments - Global Fund Services Limited and SEI Investments
Trustee & Custodial Services (Ireland) Limited (Styne House, Upper Hatch
Street, Dublin 2, Ireland) are authorised by the Financial Regulator under
the Investment Intermediaries Act 1995.

This material is not directed to any persons where (by reason of that
person's nationality, residence or otherwise) the publication or availability
of this material is prohibited. Persons in respect of whom such prohibitions
apply must not rely on this information in any respect whatsoever.

Dana Grosser of SEI, +1-610-676-2459, dgrosser at seic.com; or Media, Sue Mathews, suem at penrose.co.uk, or Katy Hall, katyh at penrose.co.uk, both of Penrose Financial for SEI, +44-0207-786-4888