Arle Capital Partners Limited ("Arle"), has appointed Northern Trust (Nasdaq: NTRS) to provide private equity fund administration to two of its funds (Candover 2005 and 2008), which have total assets under management of approximately EUR 2 billion (approximately US$2.75 billion).
This latest appointment extends Northern Trust's existing nine year relationship with Arle, an international private equity energy investor and asset manager.
"We decided to consolidate fund administration across our private equity funds to maximize efficiencies and streamline our operations," said Matthew Harrison, finance and operations director at Arle. "Northern Trust is an established private equity administrator with a range of expertise and proven track record. Our long-standing relationship, coupled with their ability to resiliently support our growing business volumes were key factors in our decision."
"As Guernsey's largest fund administrator and custodian, Northern Trust is delighted to extend our relationship with Arle," said Paul Cutts, country head of Northern Trust, Guernsey. "We work closely with each of our clients to understand their individual needs and create tailored solutions that meet their requirements."
"Particularly as our clients deal with various regulatory pressures, we see an increasing appetite for providers to consolidate their administration and appoint experts, such as Northern Trust," said Madeleine Senior, head of business development at Northern Trust for Europe, Middle East and Africa. "Through our robust technologies and capabilities, we can provide our clients with solutions to meet their changing requirements and increasing demands for transparency."
Northern Trust's Guernsey operations provide fund administration, custody, banking and trust services to a worldwide client base that includes specialist, multi-manager and conventional funds, corporations, family offices and private individuals. In the 2013 Monterey Insight Guernsey Funds Review, Northern Trust was ranked as the island's largest administrator (US$68.5 billion) and custodian (US$25.5 billion) by total net assets.
About Northern Trust
Northern Trust Corporation (Nasdaq: NTRS) is a leading provider of investment management, asset and fund administration, banking solutions and fiduciary services for corporations, institutions and affluent individuals worldwide. Northern Trust, a financial holding company based in Chicago, has offices in 18 states, Washington, D.C., and 18 international locations in Canada, Europe, the Middle East and the Asia-Pacific region. As of December 31, 2013, Northern Trust had assets under custody of US$5.6 trillion, and assets under investment management of US$884.5 billion. For more than 120 years, Northern Trust has earned distinction as an industry leader in combining exceptional service and expertise with innovative products and technology. For more information, visit www.northerntrust.com or follow us on Twitter @NorthernTrust.
Northern Trust Corporation, Head Office: 50 South La Salle Street, Chicago, Illinois 60603 U.S.A., incorporated with limited liability in the U.S. Global legal and regulatory information can be found at http://www.northerntrust.com/disclosures
About Arle Capital Partners
Arle Capital Partners Limited is a London-based private equity investor and asset manager. Arle brings together an accomplished team of investment professionals and proven international business leaders, managing a diverse portfolio of around 2 billion for a global investor base. Since taking on the portfolio in 2009, Arle has returned around 1 billion to investors, realising five investments: Ontex, Equity Trust, Capital Safety Group, Qioptiq and the IPO of DX Group.
Arles approach is based on active ownership in close partnership with management in order to drive long term uplifts in growth and value which will generate strong returns for Arles investors.
For more information, please visit www.arle.com.