Northern Trust has expanded its Alternatives Group with two appointments focused on investment opportunities in venture capital and secondary markets for private equity.
James R. ‘Trey’ Hart III, who is responsible for sourcing and analyzing venture capital investment opportunities in the U.S. and Asia, joined Northern Trust from Greenspring Associates, a global venture capital fund-of-funds based in Baltimore, Maryland. Adam R. Freda, who focuses on sourcing, valuing and executing private equity and venture capital transactions on the secondary market, was previously at Wind Point Partners, a middle-market leveraged buyout fund based in Chicago.
"These appointments help to strengthen and diversify our capabilities in private equity, which continues to attract strong interest as an asset class," said Robert Morgan, Managing Director of the Northern Trust Alternatives Group. "Trey and Adam bring a range of experience at some of the country’s top private equity firms. We are excited about our ability to offer a broader set of strategies to help institutional and individual investors access these markets.”
Northern Trust’s Alternatives Group has approximately $3.5 billion under management or advisory. The private equity program includes a series of private equity funds-of-funds and customizable multiple-manager portfolios, with the objective of generating returns while seeking to reduce risk through fund and sector diversification.Hart was active in all aspects of the investment process at Greenspring Associates, including primary fund investments, direct investments and secondary fund investments. Prior to Greenspring, he was an associate in the private equity practice of Kirkland & Ellis LLP, the international law firm. He is a magna cum laude graduate of Washington and Lee University and the University of Maryland School of Law, where he was an associate editor of the Maryland Law Review. While in law school, he worked in the Baltimore office of New Enterprise Associates, a $13 billion global venture capital firm.