Fund administrator steps into custody, middle-office and corporate services, along with management company services through flurry of new acquisitions.
iCapital will assume oversight of 115 Morgan Stanley feeder funds which invest in alternatives assets for the bank’s wealth management arm.
Northern Trust completed the transition of bringing Citadel’s technology team, in-house, essentially giving it the right to develop their own software for hedge funds.
The hire marks BNP Paribas’ strategy to grow its fund administration business for hedge funds and private capital funds for the region.
Northern Trust is currently providing accounting services for select clients that have a small portion of their assets in cryptocurrencies.
The appointment comes off the back of a need for more client management roles in private equity administration, as outsourcing continues to increase.