Jockey Club goes multi-manager

The Hong Kong Jockey Club has handed out two new mandates to external fund managers, in the process becoming the first Asian institutional investor to enter a multi-manager program. The club awarded SEI Investments and Alliance Capital with mandates in excess of $150 million each, both representing new assets as opposed to replacing existing managers. For both firms it is the first time they have won mandates from the Jockey Club. "This is the start of our relationship and we're…