Northern Trust Completes Acquisition of Parilux Investment Technology

CHICAGO–(BUSINESS WIRE)–Northern Trust Corporation (Nasdaq: NTRS) today announced that it has completed its acquisition of Parilux Investment Technology, LLC, completing its investment in the company and its technology launched in 2018. This acquisition underscores the Northern Trust’s commitment to its Front Office Solutions business, which provides a holistic data management platform for in-house investment teams managing complex, global multi-asset class portfolios.

Front Office Solutions integrates Parilux software with a proprietary cloud-based web and mobile interface. State-of-the-art technology, combined with Northern Trust’s global operations expertise and service, provides innovative data aggregation, enhancement and analysis capabilities to help asset owners make investment decisions. investment, execution and administration.

“Amid pressure for operational alpha and efficient investment decisions from institutional investors, relying solely on technology is not enough. We need to combine a cutting-edge technology solution with deep expertise and a highly tactile service model in order to be most effective for our customers,” said Melanie Pickett, Front Office Solutions Manager at Northern Trust. “By taking the final step to bring the Parilux team and technology together under our own roof, Front Office Solutions can go even further to empower internal investment teams. This is one of many important steps we are taking at Northern Trust to reinforce our longstanding commitment to the asset ownership community.

Pickett also now oversees asset management activities for endowments, foundations, healthcare organizations and public funds in the United States.

As institutional investors embrace data-driven approaches to asset allocation, their need for high-quality data – and the technology to manage that data – has only grown. The acquisition of Parilux by Northern Trust meets this need. The technology suite offers an exceptional range of information and functionalities, including the investment ledger (IBOR), accounting and risk analysis for alternative assets, performance reports and document management for teams investment funds of endowments, foundations, corporations, family offices and other sophisticated assets. proprietary, focused on asset allocation and manager selection.

“Growing with Northern Trust since the initial investment in 2018 has been a positive and exciting journey,” said Mark D’Andrea, managing partner and CEO of Parilux. “It has been rewarding to work towards shared technology goals and meet the needs of asset owners. through robust analytics, client reporting, data visualizations and a comprehensive full-service solution.”

The acquisition and integration of Parilux with Front Office Solutions marks a new milestone for Northern Trust Whole Office – an advanced open architecture, multi-asset class solution serving a variety of market players including asset owners , asset managers, investors and third party administrators. By integrating proprietary architecture with innovative partners, Northern Trust Whole Office facilitates client access to new technologies and capabilities across the spectrum of strategy and trading, operational, data and digital and analytical solutions.

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About Northern Trust

Northern Trust Corporation (Nasdaq: NTRS) is a leading provider of wealth management, asset servicing, asset management and banking services to businesses, institutions, affluent families and individuals. Founded in Chicago in 1889, Northern Trust has a global presence with offices in 22 US states and Washington, DC, and 23 locations in Canada, Europe, the Middle East and the Asia-Pacific region. As of March 31, 2021, Northern Trust had assets under custody/administration of US$14.8 trillion and assets under management of US$1.4 trillion. For more than 130 years, Northern Trust has distinguished itself as an industry leader for its exceptional service, financial expertise, integrity and innovation. Please visit our website or follow us on Twitter.

Northern Trust Corporation, Head Office: 50 South La Salle Street, Chicago, Illinois 60603 USA, incorporated with limited liability in the USA Please read our global and regulatory information.