RiverNorth Capital Management, LLC, a U.S.-based opportunistic strategy investment manager, has chosen SS&C‘s front-to-back solution to manage its USD5.3bn portfolio. SS&C will provide front-to-back services for RiverNorth’s registered funds, private funds and institutional SMAs. RiverNorth uses SS&C as its fund administrator for its ’40 Act and private fund portfolios.
Year: 2021
Broadridge launches DLT repo platform
Broadridge Financial Solutions, a fintech provider, has gone live with its its distributed ledger repo (DLR) platform. The launch comes after multiple pilots with sell-side and buy-side firms. DLR provides a single platform where market participants can agree, execute and settle repo transactions. DLR allows for the immobilisation of the underlying securities in the repo…
Carne hires Patrick O’Brien as head of Ireland bus dev
Patrick O’Brien has joined Carne Group, the world’s largest third-party ManCo, as head of business development for Ireland. O’Brien spent two years at Intertrust, most recently as global head of client development, and has also worked at Citi and J.P. Morgan. Earlier this year, Carne secured a EUR100m investment from Vitruvian Partners.
Crestbridge hires James Watts for senior client operations role
Crestbridge, the C.I.-based administrator, has appointed James Watts as head of client operations within its institutional segment. He is responsible for the development and enhancement of cross function systems, controls and procedures that support the strategic management and growth of client relationships. Prior to joining Crestbridge, Watts was group fund operations leader for IQ-EQ.
Prudential consolidates in Hong Kong with Citi
In what is thought to be the largest fund administration mandate in Asia Pacific, the Hong Kong unit of the UK’s Prudential has consolidated >USD70bn across more than 40 portfolios with Citi. Citi will provide Prudential Hong Kong Limited with fund accounting, transfer agency and reporting services. This mandate represents the consolidation by Prudential of…
State Street creates new digital finance division
State Street has launched a new division focused on digital finance. The new division, State Street Digital, will be led by Nadine Chakar, EVP and head of global markets. Chakar will report to Lou Maiuri, COO. Chakar will be replaced as head of global markets by Tony Bisegna, currently global head of portfolio solutions, FX…
Northern Trust promotes Higgins & Carey in Asia Pacific
Northern Trust has appointed Caroline Higgins as the head of Hong Kong, Macau and Taiwan, and Iain Carey as the head of Global Funds Services in Asia. Based in Hong Kong, Higgins will report to Angelo Calvitto, recently named head of Asia Pacific asset servicing. Reporting to Higgins, and assuming her prior role as head…
Arcesium launches performance allocation product
Arcesium, the U.S.-based financial technology and professional services firm, has launched PerformA, a performance allocations product designed to simplify the investor accounting process and reduce the risks, costs, and manual errors associated with spreadsheet-based fund accounting. PerformA is tailored for different client types, including hedge funds, fund administrators, and private equity firms.
LLR invests in Archer
Archer, a U.S.-based service provider to the investment management industry, has received a capital injection from LLR Partners, a lower middle market private equity firm investing in technology and healthcare businesses.
Parnassus appoints Ultimus for TA
Ultimus, a U.S.-based provider of fund administration, accounting, and investor solutions, has been appointed as transfer agent for Parnassus Investments, a San Francisco based fund family with USD41.7bn AuM. As part of the transition, over 300,000 Parnassus shareholder accounts were converted to Ultimus’ TA system. Parnassus focuses on building wealth by investing in companies that…