CarVal Investors has selected Northern Trust Hedge Fund Services to provide middle office and fund administration services for CarVal's global portfolios.
The agreement provides CarVal Investors with a unified operations and technology platform to support investment teams and strategies on four continents worldwide.
Peter Vorbrich, CFO of CarVal Investors, said: "As CarVal continues to grow its global franchise, this relationship allows us to scale our operations while controlling costs and maintaining focus on our value investment discipline.
"Northern Trust Hedge Fund Services brings deep operational expertise around alternative investments andmarket-leading technology created specifically for the needs of funds like ours. Above all, we selected Northern Trust because their commitment to client service and integrity will help to drive sustainable growth at CarVal."
Under the agreement, Northern Trust Hedge Funds Services provides middle office and administration services across CarVal's enterprise. Services include trade capture and lifecycle processing, profit and loss reporting, collateral management, fund accounting, and financial reporting for more than 75 investment structures, as well as investor accounting and investor servicing for CarVal Investors' more than 130 institutional investors.