As per terms of the agreement, Northern Trust will offer services such as trade capture and lifecycle processing, profit and loss reporting, collateral management, fund accounting, and financial reporting for more than 75 investment structures.
It will also provide investor accounting and investor servicing for CarVal Investors’ over 130 institutional investors.
Commenting on the selection, CarVal Investors chief financial officer Peter Vorbrich said the tie up will help scale its operations while controlling costs and maintaining focus on value investment discipline.
The CarVal Investors will now be able to avail an integrated operations and technology platform to support their investment teams and strategies in four continents.
Established in 1987, CarVal Investors manages nearly $9bn in assets under management in both credit and real estate strategies and operates as alternative investment fund manager focusing on distressed and credit-intensive assets and market inefficiencies.
Northern Trust is a Chicago based financial holding company, with assets under custody of $4.8 trillion, and assets under investment management of $749.7bn, as of 30 September 2012.
