Northern Trust has been appointed by 5th Century Partners (5CP), a purpose-driven private investment firm based in Chicago, to provide fund administration and related services. The relationship includes banking, investor services and support for the launch of 5CP’s oversubscribed debut fund, which closed to investors earlier this year with USD144m in capital commitments.
Northern Trust provides fund administration, fund accounting and investor services to 5CP through its private capital administration unit, while Northern Trust Wealth Management provides banking services. In addition, 50 South Capital Advisors, LLC, a unit of Northern Trust Asset Management, served as an advisor to select investors seeking access to the fund.