Northern Trust has developed enhanced reporting and analytical tools in partnership with FIS to provide private equity managers with greater transparency into fund operations.
Private equity funds are increasingly looking to outsourcing as their business grow and strategies become more complex. This is leading to higher demands for services which hedge funds have more traditionally sought such as increased transparency.
Northern Trust has said the capability enables on-demand reporting to answer investor and investment manager inquiries, providing general partners with direct access to detailed and comprehensive information on their schedule of investments, cash flows, investor capital commitments and balances.
“We have focused heavily on deploying leading technology to drive increased transparency in private equity investing, and this latest enhancement is another example of how we continue to raise the bar,” said Pete Cherecwich, president of corporate & institutional services at Northern Trust.
“By incorporating the advanced FIS solution, we give clients the data they need to make more informed decisions.”
Northern Trust provides fund administration to more than 100 private equity managers across the globe.
In February 2017, the custodian bank and administration services provider joined up with IBM in a commercial deployment of blockchain technology for the private equity market.
Part of this plan was to provide real-time insight and transparency to all parties including fund managers, investors and regulators.