Private Market Hub Becomes the First Multi-jurisdictional, Multi-tenant Enabled Solution for Private Equity Firms Globally

Rhea-AI Summary

Broadridge Financial Solutions has launched a multi-jurisdictional version of its Private Market Hub platform, now supporting North American funds. This platform, the first of its kind in private equity, utilizes blockchain technology to streamline operations across jurisdictions. Northern Trust is the cornerstone client now live on the platform, which comes amid significant growth in PE fundraising, surpassing $400 billion.

With over $2.9 trillion in assets under management, the platform enhances workflow efficiencies and data management for fund managers and stakeholders.

Positive

• Launch of the first multi-jurisdictional private equity platform enhances operational efficiency for asset managers.
• Broadridge's Private Market Hub supports North American funds, marking significant market expansion.
• Private Market Hub aims to standardize processes and data management across jurisdictions.

Negative

• None.

Northern Trust funds first to go live on the new multi-jurisdictional environment

NEW YORK and LONDON, Sept. 7, 2022 /PRNewswire/ -- Leveraging blockchain technology to alleviate the complexities faced by asset managers with funds in multiple geographies, global Fintech leader Broadridge Financial Solutions, Inc. (NYSE: BR), has released a multi-jurisdictional version of its private equity platform, Private Market Hub, now available to funds domiciled in North America.

Previously operational for funds domiciled in Guernsey, Private Market Hub has been enhanced to support clients in the United States. Private Market Hub is currently the only fully operational multi-tenant enabled platform for the private equity (PE) market with the ability to seamlessly service funds across multiple jurisdictions powered by distributed ledger technology (DLT).

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 $400 billion and assets under management at an all-time high of $2.9 trillion¹," said Mike Sleightholme, Broadridge's President of asset management solutions. "This latest set of enhancements is a first for the industry. It creates workflow and operational efficiencies for both US and multi-jurisdictional funds, giving them the ability to standardize processes and data across jurisdictions, avoiding disparate silos of client data."

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.

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 $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 14,000 associates in 21 countries. For more information about us, please visit www.broadridge.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

Asia Pacific
Kainoa Blaisdell
Teneo
+65 6955 8874
ASIA-broadridge@teneostrategy.com

¹ McKinsey Global Private Markets Review 2022 – Private markets rally to new heights

 

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SOURCE Broadridge Financial Solutions, Inc.

FAQ

What is Broadridge's new Private Market Hub?

Broadridge's Private Market Hub is a multi-jurisdictional platform designed for private equity funds, utilizing blockchain technology to streamline operations across different geographic regions.

When was the new version of Private Market Hub launched?

The new multi-jurisdictional version of the Private Market Hub was launched on September 7, 2022.

Who is the cornerstone client for the Private Market Hub?

Northern Trust is the cornerstone client that has gone live with the first group of North American clients on the Private Market Hub.

What is the significance of the $400 billion in PE fundraising?

The $400 billion in private equity fundraising indicates explosive growth in the US market, providing a backdrop for the launch of Broadridge's Private Market Hub.

What are the advantages of the Private Market Hub for funds?

The Private Market Hub offers enhanced workflow efficiencies, better data management, and real-time visibility for fund managers and stakeholders.