Alchemy Partners is expanding its relationship with Northern Trust to deliver asset servicing solutions for its latest special opportunities fund, Alchemy Special Opportunities Fund V L.P. (ASOF V). ASOF V surpassed Alchemy’s fundraising target, securing total commitments of c. EUR1bn (c. USD1.03bn). Based in London, Alchemy is a private equity firm specialising in investing in debt and equity special situations across Europe. The firm currently manages >EUR3bn (c. USD3.1bn).
Northern Trust will continue to provide Alchemy with a range of services from its Guernsey office including fund administration, depositary, banking, custody and credit to support the launch of ASOF V. This new mandate builds on a long-standing relationship which saw Alchemy first choose Northern Trust as its fund administrator in 1997. Northern Trust has supported Alchemy with its special opportunities business since its inaugural fund in 2006. ASOF V is set up as a Guernsey limited partnership with a feeder partnership for U.S. tax-exempt investors. In addition, ASOF V has Luxembourg entities within its structure which are being supported by Northern Trust’s team in Luxembourg.