All indications point to a continued growth of the hedge fund
industry, and Northern Trust is bullish on the prospect of
growing its hedge fund administration franchise in the Asia
region following the acquisition of Omnium, the spin-off fund
administration platform from hedge fund group Citadel. The
acquisition is expected to be completed this July.
Peter Cherecwich, the head of Global Fund Services at
Northern Trust, says the acquisition will result in a rapid
growth of assets under administration.
Omnium already has $80 billion...