Northern Trust has promoted Kimberly Evans to head of private capital fund administration in North America, as it looks to expand its middle- and back-office services for alternative investment managers.
Evans will focus on growing Northern Trust’s global capabilities for real estate, private debt, infrastructure and both traditional and hybrid private equity funds, a segment of the alternatives market experiencing rapid asset growth and increased demands for transparency.
“Kim’s experience with sophisticated investors, dedication to client service and proven ability to leverage the strength of Northern Trust’s global platform and expertise will be a powerful combination for our business,” said Peter Sanchez, head of North America alternative fund services at Northern Trust.
“Her appointment signals our commitment to delivering innovative solutions to investment managers across the spectrum of alternative asset classes and strategies.”
Evans takes on the newly created role after leading the public funds business for over two years, a unit that holds over $800 billion in assets under custody across the Americas. She was also globally responsible for client valuation and reporting services.
Northern Trust’s alternative fund services unit, a combination of its hedge fund and private equity fund administration businesses, provides fund administration, accounting and data and analytical solutions to more than 100 private equity managers across the globe.
In July, the administrator struck a deal with tech vendor FIS to provide enhanced reporting and analytical tools for private equity managers.
“We see a strategic growth opportunity in providing effective middle- and back-office solutions that allow private capital managers to focus on core investment competencies and grow their businesses,” added Evans.