•  
• Tweet
•  
•        Print
•  
•         Track Keywords
•  
• 

Bailey McCann, Opalesque New York:

Northern Trust will transfer its blockchain enabled private equity platform to Broadridge, a FinTech company. Following the agreement, Broadridge will develop the platform which will provide data and analytics tools connecting the PE lifecycle for all market participants.

Initially, the solution will be made available to all PE funds domiciled in Guernsey and Delaware, including those administered by Northern Trust.

Broadridge plans to further develop and expand the private equity solution, delivering new capabilities across the lifecycle. Broadridge says that the blockchain solution has the potential to benefit the financial services industry by improving transparency, streamlining business processes, eliminating manual reconciliations, and reducing costs. This latest application of blockchain builds on Broadridge's series of blockchain/DLT initiatives, including a proxy vote pilot in conjunction with Northern Trust and other institutions, and a bilateral repurchase solution pilot.

"The alternatives/PE marketplace is expanding rapidly, and the technology needs of this evolving marketplace are underserved," said Eric Bernstein, Broadridge's head of asset management solutions.

Opalesque first reported on Northern Trust's creation of a blockchain enabled private equity platform. Northern Trust......................

To view our full article Click here