Northern Trust Expands Partnership with Alchemy to Support Its New Special Opportunities Fund
Northern Trust (NTRS) has expanded its partnership with Alchemy Partners to provide asset servicing solutions for Alchemy Special Opportunities Fund V L.P. (ASOF V). The fund exceeded its target, securing €1 billion (approximately $1.03 billion) in total commitments.
Northern Trust will provide comprehensive services including fund administration, depositary, banking, custody, and credit support from its Guernsey office. This builds on their relationship since 1997, with Northern Trust supporting Alchemy's Special Opportunities business since 2006.
ASOF V, structured as a Guernsey partnership with a US feeder partnership, will focus on mid-market corporate special situations across Europe through loans, debt, and equity securities. Alchemy currently manages over €3 billion in assets. The fund includes Luxembourg entities supported by Northern Trust's Global Fund Services team.
Northern Trust (NTRS) ha ampliato la sua partnership con Alchemy Partners per fornire soluzioni di servizi patrimoniali per l'Alchemy Special Opportunities Fund V L.P. (ASOF V). Il fondo ha superato il suo obiettivo, assicurandosi 1 miliardo di euro (circa 1,03 miliardi di dollari) in impegni totali.
Northern Trust fornirà servizi completi, tra cui amministrazione del fondo, depositario, servizi bancari, custodia e supporto creditizio dal suo ufficio di Guernsey. Questo rafforza la loro relazione dal 1997, con Northern Trust che supporta l'attività di Special Opportunities di Alchemy dal 2006.
ASOF V, strutturato come una partnership di Guernsey con una partnership feeder statunitense, si concentrerà su situazioni speciali nel mercato medio delle aziende in tutta Europa attraverso prestiti, debito e titoli azionari. Alchemy attualmente gestisce oltre 3 miliardi di euro in attivi. Il fondo include entità lussemburghesi supportate dal team Global Fund Services di Northern Trust.
Northern Trust (NTRS) ha ampliado su asociación con Alchemy Partners para ofrecer soluciones de servicios de activos para el Alchemy Special Opportunities Fund V L.P. (ASOF V). El fondo superó su objetivo, asegurando 1 mil millones de euros (aproximadamente 1,03 mil millones de dólares) en compromisos totales.
Northern Trust proporcionará servicios integrales que incluyen administración de fondos, depositario, banca, custodia y apoyo crediticio desde su oficina en Guernsey. Esto refuerza su relación desde 1997, con Northern Trust apoyando el negocio de Special Opportunities de Alchemy desde 2006.
ASOF V, estructurado como una asociación de Guernsey con una asociación alimentadora estadounidense, se centrará en situaciones especiales de empresas de mercado medio en toda Europa a través de préstamos, deuda y valores de capital. Alchemy actualmente gestiona más de 3 mil millones de euros en activos. El fondo incluye entidades luxemburguesas apoyadas por el equipo de Global Fund Services de Northern Trust.
노던 트러스트 (NTRS)는 알케미 파트너스와의 파트너십을 확장하여 알케미 스페셜 오퍼튜니티 펀드 V L.P. (ASOF V)를 위한 자산 서비스 솔루션을 제공합니다. 이 펀드는 목표를 초과 달성하여 총 10억 유로 (약 10억 3천만 달러)의 약속을 확보했습니다.
노던 트러스트는 건지 사무소에서 펀드 관리, 예탁, 은행, 수탁 및 신용 지원을 포함한 종합 서비스를 제공합니다. 이것은 1997년부터의 관계를 기반으로 하며, 2006년부터 알케미의 스페셜 오퍼튜니티 비즈니스를 지원하고 있습니다.
ASOF V는 미국 피더 파트너십과 함께 건지 파트너십으로 구성되어 있으며, 유럽 전역의 중소기업 특별 상황에 집중하여 대출, 채무 및 주식 증권을 통해 운영됩니다. 알케미는 현재 30억 유로 이상의 자산을 관리하고 있습니다. 이 펀드는 노던 트러스트의 글로벌 펀드 서비스 팀의 지원을 받는 룩셈부르크 법인을 포함하고 있습니다.
Northern Trust (NTRS) a élargi son partenariat avec Alchemy Partners pour fournir des solutions de services d'actifs pour l'Alchemy Special Opportunities Fund V L.P. (ASOF V). Le fonds a dépassé son objectif, sécurisant un total de 1 milliard d'euros (environ 1,03 milliard de dollars) en engagements.
Northern Trust fournira des services complets, y compris l'administration des fonds, le dépôt, les services bancaires, la garde et le soutien crédit depuis son bureau à Guernsey. Cela renforce leur relation depuis 1997, Northern Trust soutenant l'activité Special Opportunities d'Alchemy depuis 2006.
ASOF V, structuré en tant que partenariat de Guernsey avec un partenariat d'alimentation américain, se concentrera sur des situations spéciales d'entreprises de taille intermédiaire à travers l'Europe par le biais de prêts, de dettes et de titres de participation. Alchemy gère actuellement plus de 3 milliards d'euros d'actifs. Le fonds comprend des entités luxembourgeoises soutenues par l'équipe Global Fund Services de Northern Trust.
Northern Trust (NTRS) hat seine Partnerschaft mit Alchemy Partners erweitert, um Asset-Servicing-Lösungen für den Alchemy Special Opportunities Fund V L.P. (ASOF V) anzubieten. Der Fonds hat sein Ziel übertroffen und insgesamt 1 Milliarde Euro (ca. 1,03 Milliarden US-Dollar) an Zusagen gesichert.
Northern Trust wird umfassende Dienstleistungen anbieten, darunter Fondsverwaltung, Depotbank, Bankdienstleistungen, Verwahrung und Kreditunterstützung von seinem Büro in Guernsey aus. Dies baut auf ihrer Beziehung seit 1997 auf, wobei Northern Trust das Geschäft von Alchemy im Bereich Special Opportunities seit 2006 unterstützt.
ASOF V, das als Guernsey-Partnerschaft mit einer US-Förderpartnerschaft strukturiert ist, wird sich auf besondere Unternehmenssituationen im Mittelstand in ganz Europa konzentrieren, und zwar durch Kredite, Schulden und Eigenkapitalwerte. Alchemy verwaltet derzeit über 3 Milliarden Euro an Vermögenswerten. Der Fonds umfasst luxemburgische Einheiten, die vom Global Fund Services-Team von Northern Trust unterstützt werden.
- Secured €1 billion in commitments, exceeding fundraising target
- Expansion of long-term client relationship since 1997
- Additional revenue stream from comprehensive service offering
- None.
Insights
This partnership expansion represents a strategic win for Northern Trust, securing a comprehensive service mandate for Alchemy's €1 billion Special Opportunities Fund V. The deal's significance extends beyond the immediate revenue implications, marking a 28-year relationship that showcases Northern Trust's ability to retain and grow key client relationships in the competitive fund services sector.
The multi-jurisdictional nature of the mandate, spanning Guernsey and Luxembourg, positions Northern Trust advantageously in two key European financial centers. This geographic diversity is particularly valuable as fund managers increasingly require cross-border expertise and regulatory compliance capabilities. The comprehensive service package - encompassing fund administration, depositary services, banking, custody, and credit - suggests a high-margin, recurring revenue stream that typically represents 15-25 basis points of assets under administration annually.
The successful launch of ASOF V, exceeding its fundraising target, indicates strong market appetite for special situations strategies in the current market environment. For Northern Trust, supporting Alchemy's growth from its founding to now managing over €3 billion in assets demonstrates the company's ability to scale services alongside client growth - a important differentiator in the institutional asset servicing space.
The mandate's structure, including provisions for US tax-exempt investors through a feeder partnership, showcases Northern Trust's capability to handle complex fund structures and cross-border requirements. This expertise is increasingly valuable as alternative investment managers seek to diversify their investor base globally while navigating complex regulatory requirements.
Northern Trust Expands Longstanding Relationship with Alchemy Helping to Launch its Fifth Special Opportunities Fund
Northern Trust will continue to provide Alchemy with a range of services from its Guernsey office including fund administration, depositary, banking, custody and credit to support the launch of ASOF V. This new mandate builds on a long-standing relationship which saw Alchemy first choose Northern Trust as its fund administrator in 1997. Northern Trust has supported Alchemy with its Special Opportunities business since its inaugural fund in 2006.
Founded in 1997 and based in
“Northern Trust has enjoyed a close working relationship with Alchemy since its founding, supporting their funds and structures,” said Dave Sauvarin, head of Northern Trust Channel Islands. “We are delighted to continue this collaboration and design a comprehensive asset servicing offering supporting this fifth special opportunities fund, further strengthening our support to Alchemy.”
ASOF V is set up as a Guernsey limited partnership with a feeder partnership for US tax-exempt investors. ASOF V will invest in mid-market corporate special situations across
“Our long-standing relationship with Northern Trust has given us a solid foundation for our latest venture, Alchemy Special Opportunities V L.P,” said John Rowland, Chief Operating Officer, Alchemy. “With Northern Trust's expertise and support, we can focus on delivering strong investment returns for the fund’s investors.”
Northern Trust's Guernsey office offers scale and expertise across traditional and multiple alternative asset classes, leveraging experience spanning more than five decades. The range of customized component services include fund administration, AIFMD compliant depositary services, global custody and banking and fiduciary services, supported by a global operating model.
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
Northern Trust Corporation, Head Office: 50 South La Salle Street,
About Alchemy Partners
Alchemy is a leading European corporate special situations investor focused on the mid-market. It is a specialist in acquiring control of businesses through debt and equity and working alongside management teams to help them create and grow value by solving problems, helping take difficult decisions and driving through change. The firm has invested over
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Media Contacts
Camilla
+44 (0) 20 7982 2176
Camilla_Greene@ntrs.com
Simon Ansell
+ 44 (0) 20 7982 1016
Simon_Ansell@ntrs.com
US &
John O’Connell
+1 312 444 2388
John_O’Connell@ntrs.com
Source: Northern Trust Corporation
FAQ
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