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May 7, 2021

Northern Trust wraps up Parilux Investment Technology takeover

By Verdict Staff

Northern Trust has concluded its acquisition of Parilux Investment Technology. The financial terms of the deal have not been shared.

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The acquisition follows the asset manager’s investment in the Parilux and its technology since 2018.

The deal further strengthens Northern Trust’s Front Office Solutions business, which offers a data management platform for in-house investment teams managing global multi-asset class portfolios.

Front Office Solutions integrates Parilux’s software with a proprietary cloud-based web and mobile interface.

Combined with the company’s global operations expertise and service, this technology is said to enhance capabilities across data aggregation, enhancement and analytics. It will help asset owners in their investment decision-making, execution, and administration.

Northern Trust head of front office solutions Melanie Pickett said: “By taking the final step to bring Parilux’s team and technology under our own roof, Front Office Solutions can go even further to empower in-house investment teams.”

The acquisition of Parilux will enable Northern Trust to help address the requirement of institutional investors for quality data as well as the technology to manage such data.

Its technology suite provides a range of information and functionalities. These include investment book of record (IBOR), accounting and risk analytics for alternative assets, performance reporting and document management for investment teams focused on asset allocation and manager selection.

Furthermore, the addition also enhances Northern Trust Whole Office that serves a diverse market consisting of asset managers, investors and third-party administrators among others.

Parilux managing partner and CEO Mark D’Andrea said: “Growing with Northern Trust since the initial investment in 2018 has been a positive and exciting journey.

“It has been rewarding to work toward shared technology goals and serve asset owners’ needs through robust analytics, client reporting, data visualisations and an overall full-service solution.”

Northern Trust registered a 4% year-on-year rise in net income in Q1 2021.

In February this year, the firm agreed to acquire an equity stake in cloud-based analytics platform Equity Data Science, which offers decision support tools to asset managers.

Free Report
img

How attractive are current investment opportunities in Europe?

Europe has been identified as one of the most favorable regions for investors, seeing high investment activity in the past year. Most of these investments have been through Debt Offering, valued at close to $700 billion. The region has provided attractive investments in a diverse set of companies. Companies who tend to major themes such Digital Media, Cloud, Artificial Intelligence, E-commerce, and Big Data are recording the highest number of deals, with Digital Media recording close to 2,000 deals. However, GlobalData’s whitepaper offers a full view of the market, analyzing less successful or attractive points of investment as well, examining statistics on Equity Offering investments and PE/VC deals. Understand how government agencies for economies around the world use GlobalData Explorer to:  
  • Track the M&A and Capital Raising volumes into their target market
  • Identify the top sectors in the target market attracting the investments
  • For any investment segment, identify the top Investors inside and outside the target economy that are already investing in the Segment
  • Assess and showcase the growth potential for various Industries in the target economy
Don’t miss out on key market insights that can help optimize your next investment – read the report now.
by GlobalData
Enter your details here to receive your free Report.

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