Northern Trust To Administer Major Guernsey Funds
by Mike Godfrey, Lowtax.net, Washington
21 April, 2014
Guernsey's Northern Trust has secured a mandate to manage two of Arle Capital Partners Limited's funds, together comprising assets worth about EUR2bn (USD2.76bn).
Arle Capital Partners is an international private equity manager focusing on investments in energy and natural resources, and has asked Northern Trust to administer its funds Candover 2005 and Candover 2008.
Northern Trust is Guernsey's largest fund administrator with about USD68.5bn under management in 2013. Arle Capital Partners's decision to choose Northern Trust builds on a strong nine-year relationship between the two firms.
Matthew Harrison, Finance and Operations Director at Arle Capital Partners, said: "Northern Trust is an established private equity administrator with a range of expertise and proven track record. Our long-standing relationship, coupled with their ability to resiliently support our growing business volumes were key factors in our decision."
Paul Cutts, Country Head of Northern Trust in Guernsey, said: "As Guernsey's largest fund administrator and custodian, Northern Trust is delighted to extend our relationship with Arle."
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