The high-profile mandate is the latest for Northern Trust’s hedge fund services division, following the launch of new technology products for its hedge fund clients.
The acquisition is an extension of MUFG Investor Services’ partnership it signed with Point Nine last year.
Northern Trust's technology launches have been focused on providing added transparency and enhancing investor experience for hedge funds.
Expanding its middle-office capabilities has been a strategic focus for JP Morgan’s custody and fund services business for a number of years.
Northern Trust has recently made a number of technological advancements for its hedge fund, asset manager and asset owner clients.
The AIS division has fast emerged as a key strategy area for the bank’s fund administration business as it looks to target alternative investment managers.
RBC I&TS is currently two years into a four-year programme of digitally transforming its back- and middle-office services globally.
NPS will also outsource, for the first time, its middle-office processes for all of its overseas investments to State Street.
CrossWise was launched earlier this year for asset managers to optimise their operating model by combining its front and back-office services.