Key Takeaways
- • Northern Trust has launched North America Alternative Fund Services, a new group combining its private equity and hedge fund services businesses.
- • The group provides fund administration, accounting and data solutions to hedge funds, private equity managers and managed account platforms.
- • Peter Sanchez, head of Northern Trust Hedge Fund Services since 2011, will lead the new group; Jeff Boyd has been promoted to lead Hedge Fund Services in North America, reporting to Sanchez.
- • The group is one of the fastest growing businesses within Northern Trust's Corporate & Institutional Services unit, according to the firm.
Summary
Northern Trust has launched North America Alternative Fund Services, a new group that brings together the bank's established private equity and hedge fund services businesses. The group is designed to address the operational and strategic needs of an alternative asset management industry that is evolving rapidly, according to the Hedgeweek report.
The unit offers fund administration, accounting and data solutions to sophisticated hedge funds, private equity managers and managed account platforms. Its stated areas of specialisation include complex valuations, cash, collateral and liquidity management, and analytics and transparency into portfolios that increasingly blend hedge fund strategies with fund structures traditionally used by private equity firms.
The group will be led by Peter Sanchez, who has headed Northern Trust Hedge Fund Services since 2011. Jeff Boyd has been promoted to lead Hedge Fund Services in North America and will report to Sanchez. The group is described as one of the fastest growing businesses within Northern Trust's Corporate & Institutional Services division.
Pete Cherecwich, president of Corporate & Institutional Services at Northern Trust, said investment managers face new operational challenges as they move into private equity, real estate, infrastructure and hedging strategies in the search for yield. He said the group offers a sophisticated technology platform, operational expertise and service model for innovative asset managers and their clients.
Sanchez said combining the two services leverages Northern Trust's strong footprint in both sectors. He positioned the unit as a strategic operations partner that can provide technology, transparency tools and domain expertise to help asset managers adapt to a changing marketplace.
The unit offers fund administration, accounting and data solutions to sophisticated hedge funds, private equity managers and managed account platforms. Its stated areas of specialisation include complex valuations, cash, collateral and liquidity management, and analytics and transparency into portfolios that increasingly blend hedge fund strategies with fund structures traditionally used by private equity firms.
The group will be led by Peter Sanchez, who has headed Northern Trust Hedge Fund Services since 2011. Jeff Boyd has been promoted to lead Hedge Fund Services in North America and will report to Sanchez. The group is described as one of the fastest growing businesses within Northern Trust's Corporate & Institutional Services division.
Pete Cherecwich, president of Corporate & Institutional Services at Northern Trust, said investment managers face new operational challenges as they move into private equity, real estate, infrastructure and hedging strategies in the search for yield. He said the group offers a sophisticated technology platform, operational expertise and service model for innovative asset managers and their clients.
Sanchez said combining the two services leverages Northern Trust's strong footprint in both sectors. He positioned the unit as a strategic operations partner that can provide technology, transparency tools and domain expertise to help asset managers adapt to a changing marketplace.
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