Northern Trust has been chosen by the University of Kentucky to provide asset servicing, including custody and investment risk and analytics, for the university’s $746 million endowment.
“Northern Trust stood out as a clear leader in the not-for-profit sector as evidenced by their extensive experience with similar clients,” says the university’s assistant treasurer Susan Krauss. “While our endowment continues to grow and diversify into the alternative investment space, Northern will help us better manage our assets. Specifically, their capabilities around performance and risk reporting will be of great value as we move forward.”
Connie Lindsey, executive vice president and group head of the Public Entities and Institutions segment in the Corporate & Institutional Services business unit at Northern Trust, adds: “Northern Trust’s history of charitable giving and volunteerism has provided a solid foundation for supporting the unique needs of our not-for-profit clients. There are certain reporting and regulatory requirements that accompany non-for-profit status and we have a dedicated team in place to support them.”