Northern Trust Wins US$5 Billion Fund Platform Administration Mandate From Earth Capital Partners
By Prne, Gaea News NetworkMonday, March 23, 2009
LONDON - Northern Trust has been selected to provide fund administration services
for the fund platform managed by Earth Capital Partners (”ECP”), a new
investment business with a specialist focus on environmental investment, and
an objective to raise US$5bn into the fund platform over the next five years.
The new platform has the opportunity to launch a series of closed end
investment vehicles invested in such sustainable projects as solar power,
waste-to-energy, southern hemisphere agriculture and may also provide
financial backing for companies developing new environmental technologies.
Referring to the selection of Northern Trust, Rufus Warner ECP LLP’s
Chief Executive, said, “In selecting a fund administrator we were
specifically looking for proven expertise in administering a range of hybrid
funds. Products in sustainable development are a new and exciting area of
assets and Northern Trust has demonstrated the fund administration
capabilities that respond to our unique requirements.”
ECP LLP, chaired by Stanley Fink, was launched in late 2008. At the
launch event, Mr Fink described the partnership’s objective as “to deliver
attractive returns to our investors by investing in projects, companies and
financial instruments, which address sustainable development challenges, such
as climate change, water scarcity and energy security.” The ECP Renewables
Fund is one of the first investment structures to be launched to reflect
those goals.
Kate Stallard, head of private equity, infrastructure and real estate
sales at Northern Trust, said, “We are delighted to be working with Earth
Capital Partners on this initiative addressing a growing need to engage in
environmental solutions. As an experienced fund administrator, Northern Trust
understands the complex nature of administering alternatives, particularly in
intangible assets and looks forward to bringing this experience to bear in
this new relationship.”
Northern Trust provides a comprehensive range of fund administration
solutions for conventional funds and alternative asset classes including
hedge funds, fund of funds, property funds, private equity, infrastructure
and agriculture. It supports multiple fund structures across multiple
jurisdictions including the UK, USA, Ireland, Luxembourg, Jersey and
Guernsey. Northern Trust also offers relating banking, trustee and custody
services which can be tailored to support evolving business needs.
About Northern Trust
Northern Trust Corporation (Nasdaq: NTRS) is a leading provider of
investment management, asset and fund administration, fiduciary and banking
solutions for corporations, institutions and affluent individuals worldwide.
Northern Trust, a financial holding company based in Chicago, has a growing
network of 85 offices in 18 U.S. states and has international offices in 15
locations in North America, Europe, the Middle East and the Asia-Pacific
region. As of December 31, 2008, Northern Trust had assets under custody of
US$3.0 trillion, and assets under investment management of US$558.8 billion.
Northern Trust, founded in 1889, has earned distinction as an industry leader
in combining exceptional service and expertise with innovative products and
technology. For more information, visit www.northerntrust.com.
- Northern Trust (Guernsey) Limited, Northern Trust Fiduciary Services
(Guernsey) Limited, Northern Trust Fiduciary Company (Guernsey) Limited
And Northern Trust International Fund Administration Services
(Guernsey) Limited are licensed by the Guernsey Financial Services
Commission
- Northern Trust International Fund Administrators (Jersey) Limited and
Northern Trust Fiduciary Services (Jersey) Limited are regulated by the
Jersey Financial Services Commission
- Northern Trust Global Services is authorised and regulated in the
Netherlands by De Nederlandsche Bank
- Northern Trust Global Services Limited Luxembourg Branch is authorised
and regulated by the Financial Services Authority and in Luxembourg by
the Commission de Surveillance du Secteur Financier (CSSF) and Northern
Trust Luxembourg Management Company S.A. is regulated by the CSSF
- Northern Trust Global Services Limited - Abu Dhabi. Representative
Office, Licence number 13/238/2008
- Northern Trust operates in Australia as a foreign authorised
deposit-taking institution (foreign ADI) and is regulated by The
Australian Prudential Regulation Authority
- Northern Trust in Hong Kong is a securities company regulated by the
Securities and Futures Commission
- Northern Trust in Singapore is a foreign wholesale bank regulated by
the Monetary Authority of Singapore
- Northern Trust operates in China as a Representative Office and is
regulated by the China Banking Regulatory Commission
- Where Northern Trust’s UK entities undertake regulated business, they
are authorised and regulated in the United Kingdom by the Financial
Services Authority
- Northern Trust International Fund Administration Services (Ireland)
Limited and Northern Trust Fiduciary Services (Ireland) Limited are each
authorised by the Irish Financial Services Regulatory Authority
pursuant to section 10 of the Investment Intermediaries Act, 1995 (as
amended)
Earth Capital Partners
Earth Capital Partners (ECP) is a new investment company created to
invest solely in sustainable assets, related to the environment, climate
change and natural resources and water scarcity. ECP aims to lead change in
financial markets by demonstrating that financing the transition to low CO2,
low pollution, resource efficient economies can be achieved sustainably and
profitably. ECP’s mission is to deliver exceptional, low correlation returns
from sustainable development investment throughout the entire cycle.
Principals: Stanley Fink, non-executive Chairman;
Rufus Warner, Chief Executive Officer;
Ben Cotton, External Relations
For further information: info@earthcp.com
Source: Northern Trust Corporation
EMEA & Asia Pacific, Camilla Greene, +44-(0)-20-7982-2176, cg81 at ntrs.com, or US & Canada, John O’Connell, +1-312-444-2388, jo45 at ntrs.com, or Kathleen Fitzgerald, +1-312-444-3094, kdf2 at ntrs.com, all of Northern Trust; Earth Capital press enquiries, Simon Rostron, simon at rostronparry.com
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