Northern Trust Selected By Another Hedge Fund For Outsourcing

Start-up firm BlueHive Capital selects Northern Trust for outsourcing, depository and hedge fund administration.
By Joe Parsons(2147488729)
BlueHive Capital has become the latest start-up investment manager to select Northern Trust for outsourcing and hedge fund administration, as smaller sized firms continue to look towards custodians for delegated services.

Northern Trust will provide middle office outsourcing for BlueHive Capital’s newly launched fund, as well as depository services.

“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,” says Sebastian Boucher, chief investment officer and founder, BlueHive Capital.

BlueHive is the second consecutive firm that has chosen Northern Trust for outsourcing services, after Woodford Investment Management, yesterday, selected the custodian to provide similar services for its newly launched equity income fund.

As regulators continue to roll out additional requirements such as reporting, collateral and margin valuation, smaller sized firms are delegated certain responsibilities, such as reporting and valuation, to global custodians because of the vast amount of data they hold.

“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,” adds Peter Sanchez, head of Northern Trust Hedge Fund Services.