BlueHive Capital has enlisted Northern Trust to handle hedge fund administration services and middle-office outsourcing for its newly launched fund.
Founded in March 2013 by the Natixis CIB global team, Parisian alternative investment firm BlueHive introduced the new fund to invest in event-driven strategies with a multi-asset approach.
Northern Trust specialises in middle office and administration services, with a particular focus on trade processing, valuation and cash management. It will also be providing depository and data management services to BlueHive.
Sebastian Boucher, chief investment officer and founder of BlueHive Capital, said: “Whether it’s providing more transparency to investors or complying with regulatory requirements, the demand for data is growing and Northern Trust’s innovative technology solutions help us to meet those demands.”
This is the latest success in a recent growth spurt for Northern Trust. Since acquiring Omnium in 2011, it has secured 75 additional client mandates, including the world’s largest hedge fund, Bridgewater Associates.
Peter Sanchez, head of the Northern Trust’s hedge fund services, said: “With an industry that’s increasingly data-driven, we find many managers are looking for a partner to help them not only manage their data, but also turn that information into insights that benefit the fund and its investors.”
Based in Chicago, Northern Trust now has offices in 19 international locations and brings 125 years of industry experience to the table.
Sanchez added: “We’re pleased to support BlueHive, helping them to remove the administrative burden of fund management and enabling them to focus on their core business of managing money.”
