Partners Group Selects Northern Trust to Provide Asset Servicing Solutions for its Private Equity ELTIF Evergreen Fund
28 Maggio 2024 - 11:42AM
Business Wire
Supporting One of the First ELTIF 2.0-Compliant
Funds Launched for European Investors
Northern Trust (Nasdaq: NTRS) today announces it is providing
Partners Group (SIX Swiss Exchange: PGHN) with fund
accounting, transfer agency, depositary and corporate secretarial
services for its new European Long Term Investment Fund
(ELTIF)-compliant Private Equity ELTIF Evergreen Fund.
Founded in 1996 and based in Switzerland, Partners Group is a
leading global private markets firm with US$147 billion of assets
under management (as of 31 December 2023). It seeks to generate
strong returns by capitalizing on thematic growth trends and
transforming attractive businesses and assets into market
leaders.
Its Private Equity ELTIF Evergreen Fund is Partners Group’s
first launch under the updated European Union regulation for ELTIFs
enacted in January this year and is one of the industry’s first of
this type. The new ELTIF 2.0 regime is intended to facilitate
European investment into private market assets via semi-liquid
funds and related strategies, including by individuals not
considered to be professional investors.
Structured as a Luxembourg Société d'Investissement à Capital
Variable (SICAV), the fund’s objective is to provide investors
access to evergreen fund features such as monthly redemptions,
alongside the investor protections and simplified administration
that the ELTIF 2.0 regime aims to afford participants.
Markus Pimpl, Managing Director at Partners Group,
commented: “Appointing Northern Trust to provide solutions for the
Private Equity Evergreen ELTIF Fund expands our strategic
relationship on the basis of its capability to support multiple
asset classes as part of our private equity strategy, and to enable
flexibility for individual and institutional investors as they
invest in-line with our pro-rata allocation policy. We thank the
team for its collaborative engagement throughout the planning and
launch of this fund.”
Olivier Noël, country head, Luxembourg at Northern Trust,
said: “We are delighted to expand our relationship with Partners
Group as it extends its range of semi-liquid strategies. Through
our technology, fund structuring and investor servicing expertise,
this appointment further evidences our consultative and technical
capability to support asset managers through the lifecycle of their
funds – as they address the significant opportunity in this
fast-evolving part of the funds industry.”
Northern Trust’s Global Fund Services business provides services
including fund administration, global custody, investment
operations outsourcing and data solutions to global investment
managers – supporting a range of complex investment strategies
across the full spectrum of asset classes.
About Northern Trust
Northern Trust Corporation (Nasdaq: NTRS) is a leading provider
of wealth management, asset servicing, asset management and banking
to corporations, institutions, affluent families and individuals.
Founded in Chicago in 1889, Northern Trust has a global presence
with offices in 24 U.S. states and Washington, D.C., and across 22
locations in Canada, Europe, the Middle East and the Asia-Pacific
region. As of March 31, 2024, Northern Trust had assets under
custody/administration of US$16.5 trillion, and assets under
management of US$1.5 trillion. For more than 130 years, Northern
Trust has earned distinction as an industry leader for exceptional
service, financial expertise, integrity and innovation. Visit us on
northerntrust.com. Follow us on X (formerly Twitter) @NorthernTrust
or Northern Trust Corporation on LinkedIn.
Northern Trust Corporation, Head Office: 50 South La Salle
Street, Chicago, Illinois 60603 U.S.A., incorporated with limited
liability in the U.S. Global legal and regulatory information can
be found at https://www.northerntrust.com/terms-and-conditions.
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version on businesswire.com: https://www.businesswire.com/news/home/20240528259680/en/
Europe, Middle East, Africa & Asia-Pacific:
Camilla Greene +44 (0) 20 7982 2176 Camilla_Greene@ntrs.com
Simon Ansell + 44 (0) 20 7982 1016 Simon_Ansell@ntrs.com
US & Canada:
John O’Connell +1 312 444 2388 John_O’Connell@ntrs.com
http://www.northerntrust.com
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