Broadridge Private Market Hub to provide Emerald
and Northern Trust greater transparency and efficiency in managing
the private equity fund lifecycle
NEW YORK and LONDON, Nov. 1,
2021 /PRNewswire/ -- Broadridge Financial Solutions,
Inc. (NYSE: BR), a global Fintech leader, and Northern Trust
(Nasdaq: NTRS), a global leader in asset servicing, today announced
that Emerald Technology Ventures will utilize the Broadridge
Private Market Hub ecosystem to gain visibility and reduce
transaction friction to interact in real-time on all Guernsey
domiciled funds.
Broadridge's Private Market Hub, the industry's first deployment
of blockchain technology for the private equity market, helps solve
the industry challenge of transparency by providing real-time
access to data and a full view of the fund lifecycle. It provides
connectivity to existing industry tools and technologies to help
further automate workflows between front-, middle- and back-office
functions. The solution enables investment managers to manage,
communicate and engage with investors and other stakeholders with
greater efficiency and data transparency, streamlined through a
distributed ledger technology.
"We are pleased to have worked with Northern Trust and
Broadridge on development of the Private Market Hub, using
blockchain technology to deliver a full private equity ecosystem,"
said Hans Dellenbach, Partner and
Chief Financial Officer at Emerald Technology Ventures. "Through
the use of the Private Market Hub, we now can directly interact in
real-time and have a full, 360-degree view of all of our Guernsey
domiciled funds, giving us better oversight and flexibility moving
forward."
Northern Trust has successfully migrated four Emerald Technology
Ventures funds to the Broadridge Private Market Hub, providing a
single, fully transparent view into all funds and allowing for
interaction in real-time. Emerald Technology Ventures funds can now
call and distribute funds directly through Private Market Hub and
seamlessly process the fund lifecycle through an automated workflow
solution.
"We are excited to have Emerald Technology Ventures join our
groundbreaking Private Market Hub platform, which enables a
frictionless digital experience for private equity stakeholders and
participants," said Brian Crowley,
Global Head of Product and Product Strategy, Broadridge Asset
Management Solutions. "Investors have shown an increased interest
in private assets over the past decade amid a search for returns,
and Broadridge is creating innovative technology-based solutions to
create better operational structures and scalability."
"Following the transfer of Northern Trust's blockchain
technology to Broadridge in June
2019, we continue to invest in cutting-edge technologies
through thoughtful collaborations to deliver leading capabilities,"
said Pete Cherecwich, President of
Corporate & Institutional Services at Northern Trust. "This has
resulted in direct efficiencies for our asset manager clients as
well as for Northern Trust."
About Broadridge
Broadridge Financial Solutions (NYSE:
BR), a global Fintech leader with $5
billion in revenues, provides the critical infrastructure
that powers investing, corporate governance, and communications to
enable better financial lives. We deliver technology-driven
solutions that drive business transformation for banks,
broker-dealers, asset and wealth managers and public companies.
Broadridge's infrastructure serves as a global communications hub
enabling corporate governance by linking thousands of public
companies and mutual funds to tens of millions of individual and
institutional investors around the world. Our technology and
operations platforms underpin the daily trading of more than U.S.
$9 trillion of equities, fixed income
and other securities globally. A certified Great Place to
Work®, Broadridge is part of the S&P 500®
Index, employing over 13,000 associates in 21 countries. For more
information about us please visit broadridge.com.
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 a global presence with offices in 22 U.S. states and
Washington, D.C., and across 23
locations in Canada, Europe, the Middle
East and the Asia-Pacific
region. As of September 30, 2021,
Northern Trust had assets under custody/administration of
US$15.8 trillion, and assets under
management of US$1.5 trillion. For
more than 130 years, Northern Trust has earned distinction as an
industry leader for exceptional service, financial expertise,
integrity and innovation. Please visit our website or follow
us on Twitter.
Northern Trust Corporation, Head Office: 50 South La Salle
Street, Chicago, Illinois 60603
U.S.A., incorporated with limited liability in the U.S. Please read
our global and regulatory information.
About Emerald Technology Ventures
Emerald is a
globally recognized investment firm and strategic innovation
partner, with offices in Zurich,
Toronto and Singapore. Founded in 2000, it has raised five
venture capital funds, backed 70 emerging industrial technology
leaders through over 500 venture investment transactions and
managed five third-party investment mandates, including for the
governments of Singapore and
Switzerland, providing loan
guarantees for over 100 start-ups. Emerald is a trusted open
innovation partner for sustainable impact of numerous
multi-national corporations, leveraging deep industry expertise and
rich global deal flow in the areas of energy, water, industrial IT,
advanced materials, recycling, mobility, robotics and agriculture.
www.emerald-ventures.com
Media Contacts:
North
America
Matthew
Luongo
Prosek Partners
+1 646-818-9279
mluongo@prosek.com
Europe
Hannah Polson
Cognito
+44 (0) 7974244217
BroadridgeEMEA@cognitomedia.com