Mergers & Acquisitions / Joint Ventures

Northern Trust optimistic of strong growth in Asia


Peter Cherecwich
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 of funds under administration, with more than three quarter