CHICAGO--(BUSINESS WIRE)--Northern Trust (Nasdaq: NTRS) announced today it has established a registered investment advisor subsidiary, 50 South Capital Advisors, LLC. Formed from the Northern Trust Alternatives Group, the investment boutique will provide investors with customized solutions through its access to unique and differentiated private equity and hedge fund managers in the small- and mid-market segments.
Led by Managing Director Robert P. Morgan, a 25-year veteran of financial services and private equity, along with a dedicated team of highly experienced investment professionals, 50 South Capital builds on Northern Trust’s history of developing multi-manager strategies for investors. The new company, with $4.3 billion in assets*, is a wholly owned subsidiary of Northern Trust Corporation, and its clients will benefit from increased autonomy in strategy and investment management while leveraging the global resources and network of one of the world’s largest financial institutions.
“Demand for investments with differentiated and uncorrelated returns continues to grow,” said Stephen N. Potter, President of Northern Trust Asset Management. “Over 15 years, Northern Trust has developed special expertise providing alternative investment solutions that combine unique manager sources of alpha with strong risk management and oversight. The formation of 50 South Capital marks a milestone for Northern Trust, better aligning our alternative investment talent with the marketplace for those solutions.”
The entire Northern Trust Alternatives Group team has transitioned to the new firm. Under its new governance structure, 50 South Capital Advisors, LLC will become the investment manager of its alternatives programs.
“Investors will benefit from a highly motivated and aligned investment team at 50 South Capital, coupled with the resources and global network of Northern Trust,” Morgan said. “We believe this combination creates a competitive advantage that will position the firm well for continued access to unique managers, thoughtful portfolio construction, and asset growth.”
* Assets of 50 South Capital include approximately $3.0 billion in assets under management and approximately $1.3 billion assets under advisement.
About 50 South Capital Advisors
50 South Capital Advisors, LLC is an alternatives asset management firm designed to meet the core strategic needs of investors seeking access to hedge funds and private equity. Its highly experienced team works closely with a wide range of investors to fulfill specific investment objectives and create lasting relationships. 50 South Capital’s investment philosophy focuses on providing access primarily to small-to-mid sized managers that offer unique and differentiated sources of return. 50 South Capital is a wholly-owned subsidiary of Northern Trust Corporation. Visit www.50SouthCapital.com for more information.
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 20 international locations in Canada, Europe, the Middle East and the Asia-Pacific region. As of March 31, 2015, Northern Trust had assets under custody of US$6.1 trillion, and assets under management of US$960.1 billion. For 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 http://www.northerntrust.com/disclosures.