CarVal Investors, a leading alternative investment manager, has selected Northern Trust Hedge Fund Services to provide middle office and fund administration services for CarVal’s global portfolios.
The agreement provides CarVal Investors with a unified operations and technology platform to support investment teams and strategies on four continents worldwide. CarVal Investors conducted a competitive process with extensive due diligence before selecting Northern Trust Hedge Fund Services as its first external fund administrator.
“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,” said Peter Vorbrich, Chief Financial Officer of CarVal Investors. “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.”
CarVal Investors is a leading global alternative investment fund manager focused on distressed and credit-intensive assets and market inefficiencies. The firm, which was founded by Cargill in 1987, has approximately $9 billion in assets under management in both credit and real estate strategies.
Under the agreement, Northern Trust Hedge Funds Services provides comprehensive middle office and administration services across CarVal’s enterprise. Services include trade capture and lifecycle processing, profit and loss reporting, collateral management, fund accounting, and financial reporting for more than 75 investment structures, as well as investor accounting and investor servicing for CarVal Investors’ more than 130 institutional investors.
“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,” said Peter Sanchez, Chief Executive Officer of Northern Trust Hedge Fund Services. “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.”