Northern Trust will provide global custody, including sub-custodian coverage in 90 countries, to Prince Street Capital Management, an investment management firm specializing in emerging markets.
Prince Street Capital Management, founded in New York in 2001, has $160 million in assets under management and invests in emerging markets using long/short strategies for equities as well as derivatives and fixed income, in hedged and un-hedged funds.
Under the agreement, Northern Trust provides global custody services to the Prince Street Funds, launched in May 2001, as well as other several other accounts managed by Prince Street Capital.
“Northern Trust impressed us with its strong combination of global markets expertise and technology resources,” said Peter McKown, Chief Financial Officer and Partner of Prince Street Capital Management. “With a network of sub-custodians in 90 countries, Northern Trust offers expansive market coverage to support the full range of investmentstrategies that we employ in our various funds.”