Northern Trust has been selected by ExodusPoint Capital Management, a New York-based multi-manager platform, as its fund services provider.
Under the agreement, Northern Trust Hedge Fund Services (NTHFS) will offer fund administration, risk services and liquidity solutions for ExodusPoint.
ExodusPoint COO Enrico Corsalini said: “Given our platform’s significant trading volumes, breadth of products, and need for scale, ExodusPoint requires an administrator with superior technology and broad expertise.
“Ultimately, it was Northern Trust’s combination of technology, expertise in supporting complex businesses, strong client relationships and flexible service model that led to our decision.”
NTHFS head of North America Jeff Boyd added: “ExodusPoint needed an efficient, scalable solution for data aggregation, intuitive analytics and highly customised operating model in order to meet their internal needs and provide a high level of transparency to investors.
“We approach sophisticated alternative investment managers like ExodusPoint as an operations partner that can provide holistic solutions to meet current needs and adapt to support new investment strategies, operating models and markets.”
Founded in Chicago in 1889, Northern Trust has offices in the United States in 19 states and Washington, D.C., 23 international locations in Canada, Europe, the Middle East and the Asia-Pacific region, and 18,100 employees globally