Private Market Hub Becomes the First Multi-jurisdictional, Multi-tenant Enabled Solution for Private Equity Firms Globally
Northern Trust funds first to go live on the new multi-jurisdictional environment
Previously operational for funds domiciled in Guernsey, Private Market Hub has been enhanced to support clients in
Broadridge's new capabilities are the first of their kind in the private equity industry, allowing all stakeholders in a fund's lifecycle to participate around a common set of data and workflows via a unified user interface, irrespective of the fund's jurisdiction. Northern Trust, the cornerstone client, has gone live with the first group of North American clients – marking a new milestone in the evolution of the platform.
"We are delighted that Private Market Hub is now available to North American domiciled funds – it comes at a time of explosive growth in the US, with PE fundraising tipping
Private Market Hub automates and unifies workflows between front, middle and back-office functions while simultaneously protecting the integrity and sovereignty of data. It brings together ecosystem participants around a consistent, secure, real-time view of data - reducing friction for fund managers, investors and administrators, and enabling easier auditability. Funds can manage, communicate and engage with investors and other stakeholders with far greater efficiency. This innovative platform is enabled by distributed ledger technology, which streamlines traditionally disconnected and inefficient processes and facilitates greater visibility across the ecosystem.
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1 McKinsey Global Private Markets Review 2022 – Private markets rally to new heights
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