9-year Guernsey relationship proves fruitful for NT
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9-year Guernsey relationship proves fruitful for NT 11 April 2014 Guernsey Reporter: Georgina Lavers
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Arle Capital Partners has mandated Northern Trust to provide private equity fund administration to two of its funds (Candover 2005 and 2008), which have total AUM of approximately €2 billion ($2.75 billion).
This latest appointment extends Northern Trust’s existing nine-year relationship with Arle, an international private equity energy investor and asset manager.
“We decided to consolidate fund administration across our private equity funds to maximise efficiencies and streamline our operations,” said Matthew Harrison, finance and operations director at Arle.
“Northern Trust is an established private equity administrator with a range of expertise and proven track record. Our long-standing relationship, coupled with their ability to resiliently support our growing business volumes were key factors in our decision.”
“As Guernsey’s largest fund administrator and custodian, Northern Trust is delighted to extend our relationship with Arle,” said Paul Cutts, country head of Northern Trust, Guernsey. “We work closely with each of our clients to understand their individual needs and create tailored solutions that meet their requirements.”
“Particularly as our clients deal with various regulatory pressures, we see an increasing appetite for providers to consolidate their administration and appoint experts, such as Northern Trust,” said Madeleine Senior, head of business development at Northern Trust for EMEA.
“Through our robust technologies and capabilities, we can provide our clients with solutions to meet their changing requirements and increasing demands for transparency.”
In the 2013 Monterey Insight Guernsey Funds Review, Northern Trust was ranked as the island’s largest administrator ($68.5 billion) and custodian ($25.5 billion) by total net assets.
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