Northern Trust is expanding its relationship with private equity firm Alchemy Partners. The bank reveals in a press release that it will be providing asset servicing solutions for the Alchemy Special Opportunities Fund V L.P. (ASOF V). This is in addition to the existing services it already provides for Alchemy, which include fund administration, depositary, and custody.
ASOF V is the latest special opportunities fund under Alchemy’s special opportunities business. It invests in “mid-market corporate special situations across Europe through loans, debt, and equity securities to access discounted value with low risk-attachment points.”
Northern Trust has been a partner of Alchemy’s special opportunities division since its first fund inaugurated in 2006. The bank’s global fund services team also supports the Luxembourg entities within the fund.
