Northern Trust Launches Alternative Fund Services Business in North America
July 16 2018 - 10:07AM
Business Wire
Leverages Strength and Expertise in Hedge Fund
and Private Equity Servicing to Offer Unique Solutions to ‘Hybrid’
Managers
Northern Trust (Nasdaq: NTRS) announced today it has launched
North America Alternative Fund Services. This new group combines
established private equity and hedge fund services businesses to
deliver market-leading capabilities that address the complex
operational and strategic needs of an evolving alternative asset
management industry.
North America Alternative Fund Services provides fund
administration, accounting and data solutions to some of the
world’s most sophisticated hedge funds, private equity managers and
managed account platforms. It offers specialized expertise in
complex valuations, cash, collateral and liquidity management, as
well as analytics and transparency into portfolios that
increasingly combine hedge fund strategies with fund structures
traditionally used by private equity firms.
The new group, one of the fastest growing businesses within
Corporate & Institutional Services at Northern Trust, will be
led by Peter Sanchez, who has been head of Northern Trust Hedge
Fund Services since 2011. Jeff Boyd has been promoted to lead Hedge
Fund Services in North America, reporting to Sanchez.
“Investment managers face new operational challenges as they
move across asset classes to more complex portfolio construction
approaches – incorporating private equity, real estate,
infrastructure as well as hedging strategies in the search for
yield,” said Pete Cherecwich, president of Corporate &
Institutional Services at Northern Trust. “Under Peter’s proven
leadership, our North America Alternative Fund Services group
provides a sophisticated technology platform, operational expertise
and service model that delivers unrivalled support to the most
innovative asset managers and their clients.”
Sanchez said: “Bringing private equity and hedge fund services
together leverages Northern Trust’s strong footprint in both
sectors and enables us to deliver increasingly innovative solutions
for this dynamic market. As a strategic operations partner,
Alternative Fund Services can provide the technology platform,
transparency tools and domain expertise to help asset managers
thrive in a changing marketplace.”
About Northern Trust
Northern Trust Corporation (Nasdaq: NTRS) is a leading provider
of wealth management, asset servicing, asset management and banking
to corporations, institutions, affluent families and individuals.
Founded in Chicago in 1889, Northern Trust has offices in the
United States in 19 states and Washington, D.C., and 23
international locations in Canada, Europe, the Middle East and the
Asia-Pacific region. As of March 31, 2018, Northern Trust had
assets under custody/administration of US$10.8 trillion, and assets
under management of US$1.2 trillion. For more than 125 years,
Northern Trust has earned distinction as an industry leader for
exceptional service, financial expertise, integrity and innovation.
Visit northerntrust.com or follow us on Twitter @NorthernTrust.
Northern Trust Corporation, Head Office: 50 South La Salle
Street, Chicago, Illinois 60603 U.S.A., incorporated with limited
liability in the U.S. Global legal and regulatory information can
be found at https://www.northerntrust.com/disclosures.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20180716005426/en/
Northern Trust CorporationMedia Contact:John O’Connell+1 312 444
2388John_O'Connell@ntrs.comhttp://www.northerntrust.com
Northern (NASDAQ:NTRS)
Historical Stock Chart
From Mar 2024 to Apr 2024
Northern (NASDAQ:NTRS)
Historical Stock Chart
From Apr 2023 to Apr 2024