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Bailey McCann, Opalesque New York:

Chicago-based 50 South Capital Advisors, LLC, an investment advisory subsidiary of Northern Trust Corporation will acquire Aurora Investment Management. The Chicago-based company is a wholly-owned subsidiary of Natixis Global Asset Management. The deal will expand 50 South's alternative investment platform to include capability for the full range of alternative assets including hedge funds, private equity and real estate.

"We are pleased to take this step and significantly grow our alternative investment capabilities to help investors meet the challenges of high volatility and persistent low yields in financial markets," said Northern Trust Chairman and Chief Executive Officer Frederick H. Waddell in a statement on the acquisition.

Aurora focuses on managing hedge fund strategies, with expertise in seeding and co-investing with investment managers. 50 South Capital’s relationship with Northern Trust allows it to focus exclusively on alternative asset management while leveraging the global resources and network of one of the world’s largest financial institutions. When finalized, the combination is expected to bring 50 South Capital’s total global alternatives platform to approximately $9 billion.

Aurora CEO Roxanne Martino, President Scott Schweighauser and Managing Director of Operations Anne Marie Morley will serve as Senior Advisors during the transition over to 50 South Capital. Aurora investment staff will also join t......................

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