Northern Trust completes Parilux Investment Technology acquisition
07 May 2021 US
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Northern Trust has finalised the acquisition of Parilux Investment Technology, completing its investment in the firm and its technology that was initiated in 2018.
The acquisition bolsters Northern Trust Front Office Solutions, which provides a holistic data management platform for in-house investment teams managing multi-asset class portfolios.
Front Office Solutions integrates Parilux’s software with a proprietary cloud-based web and mobile interface. The technology combined with Northern Trust’s global operations will support asset owners in their investment decision-making, execution, and administration.
The technology delivers a range of information and functionality, including investment book of record (IBOR), accounting and risk analytics for alternative assets, performance reporting and document management for investment teams of endowments, foundations, corporations, family offices and other sophisticated asset owners, focused on asset allocation and manager selection.
By taking the final step to bring Parilux’s team and technology in house, Melanie Pickett, head of Front Office Solutions at Northern Trust, says, front office solutions can “go even further to empower in-house investment teams”.
“This is one of many important actions we are taking at Northern Trust to further our long-standing commitment to the asset owner community,” she adds.
Pickett now also oversees the asset servicing business for endowments, foundations, healthcare organisations and public funds in the US.
"Growing with Northern Trust since the initial investment in 2018 has been a positive and exciting journey,” comments Mark D'Andrea, managing partner and CEO of Parilux. “It has been rewarding to work toward shared technology goals and serve asset owners’ needs through robust analytics, client reporting, data visualisations and an overall full-service solution."
In March, Northern Trust Front Office Solutions bolstered its team with the additions of Nichole Mann as head of operations administration and Nora Tiller as head of client solutions.
The acquisition bolsters Northern Trust Front Office Solutions, which provides a holistic data management platform for in-house investment teams managing multi-asset class portfolios.
Front Office Solutions integrates Parilux’s software with a proprietary cloud-based web and mobile interface. The technology combined with Northern Trust’s global operations will support asset owners in their investment decision-making, execution, and administration.
The technology delivers a range of information and functionality, including investment book of record (IBOR), accounting and risk analytics for alternative assets, performance reporting and document management for investment teams of endowments, foundations, corporations, family offices and other sophisticated asset owners, focused on asset allocation and manager selection.
By taking the final step to bring Parilux’s team and technology in house, Melanie Pickett, head of Front Office Solutions at Northern Trust, says, front office solutions can “go even further to empower in-house investment teams”.
“This is one of many important actions we are taking at Northern Trust to further our long-standing commitment to the asset owner community,” she adds.
Pickett now also oversees the asset servicing business for endowments, foundations, healthcare organisations and public funds in the US.
"Growing with Northern Trust since the initial investment in 2018 has been a positive and exciting journey,” comments Mark D'Andrea, managing partner and CEO of Parilux. “It has been rewarding to work toward shared technology goals and serve asset owners’ needs through robust analytics, client reporting, data visualisations and an overall full-service solution."
In March, Northern Trust Front Office Solutions bolstered its team with the additions of Nichole Mann as head of operations administration and Nora Tiller as head of client solutions.
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