SEI (NASDAQ: SEIC) and Carlyle (NASDAQ: CG) announced an enhanced partnership to expand access to private market capabilities across wealth and retirement channels, according to a press release statement.

The partnership builds on a multi-year relationship between the companies and aims to develop collaborative solutions for private market investment strategies. SEI manages, advises, or administers approximately $1.9 trillion in assets as of March 31, 2026, while Carlyle has $477 billion of assets under management as of December 31, 2025.

The collaboration will focus on developing private market solutions for wealth and retirement investors, including model portfolio design. The firms plan to work together on private market strategies for the defined contribution market, leveraging SEI's position in retirement services.

"One of the most common questions we hear from clients is how to allocate to private markets," said Michael Lane, Head of Asset Management at SEI. "Our objective with Carlyle is to help simplify that decision by providing more streamlined access to a broader range of strategies."

Jeff Nedelman, Co-President and Global Head of Client Business at Carlyle, said the partnership reflects the increasing role of private markets across the wealth and retirement landscape.

The enhanced relationship expands upon the companies' existing collaboration, which has focused on fund administration and technology enablement. The partnership aims to combine Carlyle's private markets expertise with SEI's capabilities in research, implementation, and client delivery.