Emerald Technology Ventures Adopts Private Equity Servicing with Broadridge Blockchain Solution

Rhea-AI Summary

Broadridge Financial Solutions (NYSE: BR) and Northern Trust (Nasdaq: NTRS) have partnered with Emerald Technology Ventures to utilize Broadridge's Private Market Hub, leveraging blockchain technology for enhanced transparency in private equity. This innovative platform provides real-time data and automates workflows across fund lifecycle management. Emerald has migrated four funds to this hub, allowing for transparent interactions and efficient fund management. This collaboration aims to address growing investor interest in private assets and enhance operational structures.

Positive

• Emerald Technology Ventures has successfully migrated four funds to Broadridge's Private Market Hub, enhancing transparency and operational efficiency.
• Broadridge Private Market Hub is the first blockchain implementation in the private equity market, addressing transparency issues.
• The collaboration is expected to attract heightened investor interest in private assets.

Negative

• None.

NEW YORK and LONDON, Nov. 1, 2021 /PRNewswire/ -- Broadridge Financial Solutions, Inc. (NYSE: BR), a global Fintech leader, and Northern Trust (Nasdaq: NTRS), a global leader in asset servicing, today announced that Emerald Technology Ventures will utilize the Broadridge Private Market Hub ecosystem to gain visibility and reduce transaction friction to interact in real-time on all Guernsey domiciled funds.

Broadridge's Private Market Hub is the first deployment of blockchain technology for the private equity market.

Broadridge's Private Market Hub, the industry's first deployment of blockchain technology for the private equity market, helps solve the industry challenge of transparency by providing real-time access to data and a full view of the fund lifecycle. It provides connectivity to existing industry tools and technologies to help further automate workflows between front-, middle- and back-office functions. The solution enables investment managers to manage, communicate and engage with investors and other stakeholders with greater efficiency and data transparency, streamlined through a distributed ledger technology.

"We are pleased to have worked with Northern Trust and Broadridge on development of the Private Market Hub, using blockchain technology to deliver a full private equity ecosystem," said Hans Dellenbach, Partner and Chief Financial Officer at Emerald Technology Ventures. "Through the use of the Private Market Hub, we now can directly interact in real-time and have a full, 360-degree view of all of our Guernsey domiciled funds, giving us better oversight and flexibility moving forward."

Northern Trust has successfully migrated four Emerald Technology Ventures funds to the Broadridge Private Market Hub, providing a single, fully transparent view into all funds and allowing for interaction in real-time. Emerald Technology Ventures funds can now call and distribute funds directly through Private Market Hub and seamlessly process the fund lifecycle through an automated workflow solution.

"We are excited to have Emerald Technology Ventures join our groundbreaking Private Market Hub platform, which enables a frictionless digital experience for private equity stakeholders and participants," said Brian Crowley, Global Head of Product and Product Strategy, Broadridge Asset Management Solutions. "Investors have shown an increased interest in private assets over the past decade amid a search for returns, and Broadridge is creating innovative technology-based solutions to create better operational structures and scalability."

"Following the transfer of Northern Trust's blockchain technology to Broadridge in June 2019, we continue to invest in cutting-edge technologies through thoughtful collaborations to deliver leading capabilities," said Pete Cherecwich, President of Corporate & Institutional Services at Northern Trust. "This has resulted in direct efficiencies for our asset manager clients as well as for Northern Trust."

About Broadridge
Broadridge Financial Solutions (NYSE: BR), a global Fintech leader with $5 billion in revenues, provides the critical infrastructure that powers investing, corporate governance, and communications to enable better financial lives. We deliver technology-driven solutions that drive business transformation for banks, broker-dealers, asset and wealth managers and public companies. Broadridge's infrastructure serves as a global communications hub enabling corporate governance by linking thousands of public companies and mutual funds to tens of millions of individual and institutional investors around the world. Our technology and operations platforms underpin the daily trading of more than U.S. $9 trillion of equities, fixed income and other securities globally. A certified Great Place to Work^®, Broadridge is part of the S&P 500^® Index, employing over 13,000 associates in 21 countries. For more information about us please visit broadridge.com.

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 22 U.S. states and Washington, D.C., and across 23 locations in Canada, Europe, the Middle East and the Asia-Pacific region. As of September 30, 2021, Northern Trust had assets under custody/administration of US$15.8 trillion, and assets under management of US$1.5 trillion. For more than 130 years, Northern Trust has earned distinction as an industry leader for exceptional service, financial expertise, integrity and innovation. Please visit our website or follow us on Twitter.

Northern Trust Corporation, Head Office: 50 South La Salle Street, Chicago, Illinois 60603 U.S.A., incorporated with limited liability in the U.S. Please read our global and regulatory information.

About Emerald Technology Ventures
Emerald is a globally recognized investment firm and strategic innovation partner, with offices in Zurich, Toronto and Singapore. Founded in 2000, it has raised five venture capital funds, backed 70 emerging industrial technology leaders through over 500 venture investment transactions and managed five third-party investment mandates, including for the governments of Singapore and Switzerland, providing loan guarantees for over 100 start-ups. Emerald is a trusted open innovation partner for sustainable impact of numerous multi-national corporations, leveraging deep industry expertise and rich global deal flow in the areas of energy, water, industrial IT, advanced materials, recycling, mobility, robotics and agriculture. www.emerald-ventures.com

Media Contacts:

North America
Matthew Luongo
Prosek Partners
+1 646-818-9279
mluongo@prosek.com 

Europe
Hannah Polson
Cognito
+44 (0) 7974244217
BroadridgeEMEA@cognitomedia.com 

View original content:https://www.prnewswire.com/news-releases/emerald-technology-ventures-adopts-private-equity-servicing-with-broadridge-blockchain-solution-301412365.html

SOURCE Broadridge Financial Solutions, Inc.

FAQ

What is the Broadridge Private Market Hub?

The Broadridge Private Market Hub is a blockchain-based ecosystem designed for private equity stakeholders, enhancing transparency and automating fund lifecycle management.

How does Emerald Technology Ventures benefit from the Private Market Hub?

Emerald Technology Ventures gains real-time visibility and more efficient fund management through the Broadridge Private Market Hub.

What companies are involved in the Private Market Hub partnership?

The partnership involves Broadridge Financial Solutions, Northern Trust, and Emerald Technology Ventures.

When was the partnership with Emerald Technology Ventures announced?

The partnership was announced on November 1, 2021.

What are the financial figures for Broadridge Financial Solutions?

Broadridge Financial Solutions reported revenues of $5 billion and underpins trading of over $9 trillion of securities globally.