Northern Trust secures infrastructure asset servicing mandate

Northern Trust has secured another partnership with Igneo Infrastructure Partners, the underlying infrastructure investment team at First Sentier Investors Group, to provide asset servicing solutions.

As part of the deal, Northern Trust has been designated as Igneo’s global private capital administration partner, responsible for delivering a variety of services across the manager’s funds domiciled in Australia, the Cayman Islands, Luxembourg and the US.

The services on offer include fund administration, investor servicing and transfer agency, corporate secretarial and depository services.

“This partnership marks a significant milestone for Northern Trust in Australia, enabling us to provide our clients with comprehensive private capital administration services,” Leon Stavrou, Head of Australia and New Zealand at Northern Trust, said.

“By expanding our offerings, we can better meet our clients’ growing needs, especially those who want to tap into private markets. This collaboration demonstrates our ongoing commitment to providing innovative solutions.”

Igneo specialises in investments across renewables, digital infrastructure, waste management, water utilities, transportation and logistics in Europe, the UK, Australia, New Zealand and North America.

“Northern Trust’s selection as Igneo’s outsourced administration provider supports our requirement for a strong, well-established global
capability in administering alternative assets, with the system architecture for enabling extensive oversight of our investment portfolio,” Niall Mills, Managing Partner and Global Head at Igneo, said.

“Additionally, its capabilities to automate administration processes to deliver high-quality investor servicing experiences were key factors in this appointment.”

The selection of Northern Trust followed a review of other third-party alternative administration service providers, according to Igneo.

“We are delighted to be providing this comprehensive set of global solutions supporting Igneo’s funds and investors,” Clive Bellows, Head of Global Private Capital Administration and President, EMEA at Northern Trust, said.

“As a dedicated solutions provider for managers of private capital, Northern Trust supports their end-to-end operating model by driving automation across the lifecycle of their funds, helping to mitigate risk and enhance efficiency to deliver a consistent approach that enables investor oversight.”