Northern Trust has completed its acquisition of Omnium, a hedge-fund administrator with $70 billion in assets under administration.
The acquisition will form a new company, Northern Trust Hedge Fund Services, that will provide middle office and administration services including trade processing, valuation, real-time reporting, cash management, accounting, collateral management and investor servicing.
“Northern Trust Hedge Fund Services represents a powerful combination of world-class, scalable technology and dedicated expertise,” said Peter Sanchez, CEO of Northern Trust Hedge Fund Services. “Hedge funds and large institutional investors with complex portfolios will gain a new partner offering the best in hedge fund administration expertise along with Northern Trust's robust global custody capabilities and highly respected client focus.”
