New York City-based
Water Island Capital, the adviser to The Arbitrage Fund, has hired
SEI Investments to provide fund administration, accounting, distribution and compliance.
The prior administrator was Integrated Fund Services, said spokesman Jason Rocker.
Water Island Capital considered more than five candidates in the RFP. Rocker declined to name the other candidates.
The Arbitrage Fund has approximately $129 million in assets under management.
 
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