LUXEMBOURG--(BUSINESS WIRE)--Start-up alternative investment management firm, BlueHive Capital, has selected Northern Trust (Nasdaq: NTRS) to provide specialist hedge fund administration services and middle office outsourcing for its newly launched fund. As part of the broad mandate, Northern Trust will also provide depositary services.
“We selected Northern Trust Hedge Fund Services for its industry-leading technology and commitment to transparency,” said Sebastien Boucher, chief investment officer and founder of BlueHive Capital. “Whether it’s providing more transparency to investors or complying with regulatory requirements, the demand for data is growing and Northern Trust’s innovative technology solutions help us to meet those demands.”
Based in Paris, BlueHive Capital was launched by former Natixis CIB’s Global Alpha team. The newly launched hedge fund invests in constructive event-driven strategies with a multi-asset approach, focusing on mergers, acquisitions and special situations. The fund holds between 15 to 25 underlying strategies in three asset classes: equity, volatility and credit.
“With an industry that’s increasingly data-driven, we find many managers are looking for a partner to help them not only manage their data, but also turn that information into insights that benefit the fund and its investors,” said Peter Sanchez, head of Northern Trust Hedge Fund Services. “We’re pleased to support BlueHive, helping them to remove the administrative burden of fund management and enabling them to focus on their core business of managing money.”
This latest appointment by BlueHive Capital continues a period of rapid growth for Northern Trust Hedge Fund Services. Since acquiring Omnium from Citadel in 2011, Northern Trust Hedge Fund Services has attracted more than 75 new client mandates, including one from the world’s largest hedge fund, Bridgewater Associates.
Northern Trust Hedge Fund Services provides unique solutions to the alternatives industry through its ability to streamline the interactions between all parties involved and improve efficiencies between administrators, custodians, fund managers, asset owners and fund raisers. Capabilities include comprehensive middle office and administration services, specializing in trade processing, valuation, real-time reporting, cash management, accounting, collateral management and investor servicing.
About Northern Trust
Northern Trust Corporation is a leading provider of asset servicing, fund administration, asset management, fiduciary, and banking solutions for corporations, institutions, families, and individuals worldwide. Chicago-based Northern Trust has offices in 19 states, Washington, D.C., and 19 international locations in Canada, Europe, the Middle East and the Asia-Pacific region. As of June 30, 2014, Northern Trust had assets under custody of US$6 trillion, and assets under investment management of US$924.4 billion. For 125 years, Northern Trust has earned distinction as an industry leader in combining exceptional service and expertise with innovative products and technology. For more information, visit www.northerntrust.com and 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 http://www.northerntrust.com/disclosures
