Northern Trust Hedge Fund Services will provide alternative investment manager CarVal Investors with middle office and administration services including collateral management and profit and loss reporting.
The partnership provides CarVal Investors with a combined operations and technology platform to support investment teams and strategies worldwide.
CFO of CarVal Investors, Peter Vorbrich, said: "As CarVal continues to grow its global franchise, this relationship allows us to scale our operations while controlling costs and maintaining focus on our value investment discipline."
"Northern Trust Hedge Fund Services brings deep operational expertise around alternative investments and market-leading technology created specifically for the needs of funds like ours. Above all, we selected Northern Trust because their commitment to client service and integrity will help to drive sustainable growth at CarVal."
Peter Sanchez, CEO of Northern Trust Hedge Fund Services, said: "We are proud that CarVal has chosen us as their service provider, and we look forward to helping this premier investment firm extend its global reach."
"Our services are designed to help firms like CarVal achieve high levels of efficiency and processing control, even though they trade in a diverse range of asset classes and employ complex strategies and capital structures. This relationship demonstrates the range of our platform, which can support the full lifecycle of virtually any strategy or asset class employed by alternative funds today."
