Northern Trust Hedge Fund Services Selected by Magnetar Capital for Middle and Back Office Fund Administration
CHICAGO - Northern Trust Hedge Fund Services (NTHFS) was selected to provide full middle and back office fund administration services and regulatory reporting to Magnetar Capital, an Evanston, Illinois-based multi-strategy alternative asset manager with US$13.1 billion* in assets under management.
“Given the volume and intricacy of our strategies, we needed a partner that could evolve alongside our operational demands and support a wide array of investor services,” said Ernie Rogers, Magnetar Capital COO and CFO. “We selected Northern Trust for its unique combination of technology, operational excellence and industry expertise.”
Magnetar seeks to deliver diversifying return streams by employing a wide-range of alternative credit and fixed income, energy and infrastructure, and systematic investing strategies. Founded in 2005, the firm was structured based on the belief that new opportunities existed to remove common barriers among various investing styles like quantitative and qualitative, or short and long duration. The firm invests across geographies in both public and private transactions.
“In this fast-paced market, fund managers need innovative solutions that support their growth and fit their company’s needs now and in the future,” said Jeff Boyd, Chief Executive Officer of Northern Trust Hedge Fund Services. “We are thrilled to be able to work with Magnetar Capital, offering client tailored services to support their evolving needs. Northern Trust brings an industry-leading technology platform, transparency tools and expertise to help our clients excel in a complex and rapidly changing marketplace.”
Northern Trust Hedge Fund Services is a leading provider of administration and middle office services for alternative fund managers and institutional investors with complex portfolios. Its full-service, front-to-back operating model, delivered through the Omnium platform, supports a myriad of asset classes and strategies. Omnium provides integrated middle office capabilities from the point of trade capture all the way through to investor statements, around a single set of books and records. The integration enables flexibility around attribution and strategy tagging, and real-time transparency into portfolios.
Northern Trust supports more than US$1 trillion in alternative assets on behalf of global asset managers and asset owners across the full spectrum of alternative assets including hedge funds, private equity, real estate, infrastructure, renewable energy and debt funds.
*The assets under management figure includes assets managed by Magnetar and its affiliated investment managers, including designated investments in side pockets and unfunded commitments (money committed to any fund managed by Magnetar and its affiliated investment managers as of the report date, but not yet transferred by the investors) as of January 1, 2019.
About Northern Trust
Northern Trust Corporation (Nasdaq: NTRS) is a leading provider of wealth management, asset servicing, asset management and banking to corporations, institutions, affluent families and individuals. Founded in Chicago in 1889, Northern Trust has a global presence with offices in 20 U.S. states and Washington, D.C., and across 23 locations in Canada, Europe, the Middle East and the Asia-Pacific region. As of March 31, 2019, Northern Trust had assets under custody/administration of US$10.9 trillion, and assets under management of US$1.2 trillion. For more than 125 years, Northern Trust has earned distinction as an industry leader for exceptional service, financial expertise, integrity and innovation. Visit 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 https://www.northerntrust.com/disclosures.