SEI has given Neuberger Berman a $220m (£133 million) emerging market debt mandate with the group set to replace Ashmore Investment Management.
Neuberger joins Investec and Stone Harbor Investment partners running portions of the SGMF Emerging Markets Debt fund, part of the group's strategic portfolios range.
The mandate will be overseen by the EMD team Neuberger poached from ING early last year.
Jason Collins, head of the UK investment management unit at SEI said: 'The senior leaders of the team average 15 years of investment experience and have worked through some of the most unique and volatile periods in EM currency markets, giving them a deep understanding of how to anticipate and navigate currency crises.
'Moreover, the team’s global presence enables them to obtain superior country and credit insight, perform more frequent country visits, and engage in around-the-clock portfolio management and timely execution.'
Dik van Lomwel, head of EMEA and Latin America at Neuberger Berman added: 'With bases in the US, Europe and Asia, our dedicated EMD team is well placed to build portfolios that have the opportunity to generate excess returns from a broad set of alpha sources, and we welcome the chance to work with a global multi-manager as well respected as SEI.'