Northern Trust funds first to go live on the
new multi-jurisdictional environment
NEW YORK and LONDON, Sept. 7,
2022 /PRNewswire/ -- Leveraging blockchain technology to
alleviate the complexities faced by asset managers with funds in
multiple geographies, global Fintech leader Broadridge Financial
Solutions, Inc. (NYSE: BR), has released a multi-jurisdictional
version of its private equity platform, Private Market Hub, now
available to funds domiciled in North
America.
Previously operational for funds domiciled in Guernsey, Private
Market Hub has been enhanced to support clients in the United States. Private Market Hub is
currently the only fully operational multi-tenant enabled platform
for the private equity (PE) market with the ability to seamlessly
service funds across multiple jurisdictions powered by distributed
ledger technology (DLT).
Broadridge's new capabilities are the first of their kind in the
private equity industry, allowing all stakeholders in a fund's
lifecycle to participate around a common set of data and workflows
via a unified user interface, irrespective of the fund's
jurisdiction. Northern Trust, the cornerstone client, has gone live
with the first group of North American clients – marking a new
milestone in the evolution of the platform.
"We are delighted that Private Market Hub is now available to
North American domiciled funds – it comes at a time of explosive
growth in the US, with PE fundraising tipping $400 billion and assets under management at an
all-time high of $2.9
trillion1," said Mike
Sleightholme, Broadridge's President of asset management
solutions. "This latest set of enhancements is a first for the
industry. It creates workflow and operational efficiencies for both
US and multi-jurisdictional funds, giving them the ability to
standardize processes and data across jurisdictions, avoiding
disparate silos of client data."
Private Market Hub automates and unifies workflows between
front, middle and back-office functions while simultaneously
protecting the integrity and sovereignty of data. It brings
together ecosystem participants around a consistent, secure,
real-time view of data - reducing friction for fund managers,
investors and administrators, and enabling easier auditability.
Funds can manage, communicate and engage with investors and other
stakeholders with far greater efficiency. This innovative platform
is enabled by distributed ledger technology, which streamlines
traditionally disconnected and inefficient processes and
facilitates greater visibility across the ecosystem.
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 $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 14,000 associates in 21 countries. For more information about
us, please visit www.broadridge.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
Asia
Pacific
Kainoa
Blaisdell
Teneo
+65 6955 8874
ASIA-broadridge@teneostrategy.com
1 McKinsey Global Private Markets Review 2022 –
Private markets rally to new heights
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