Press release
5th Century Partners Appoints Northern Trust to Support ‘Purpose-Driven’ Investment Strategy
Relationship Extends Across Northern Trust Asset Servicing, Wealth Management and Asset Management Units CHICAGO--(BUSINESS WIRE)-- Northern Trust (Nasdaq:
About this update from Northern Trust Corporation
[{"type":"text","content":"\nRelationship Extends Across Northern Trust Asset Servicing, Wealth Management and Asset Management Units\n\n CHICAGO--(BUSINESS WIRE)--\nNorthern Trust (Nasdaq: NTRS) has partnered with 5th Century Partners (“5CP”), a purpose-driven private investment firm based in Chicago, to provide fund administration and related services. The relationship includes banking, investor services and support for the launch of 5CP’s oversubscribed debut fund, which closed to investors earlier this year with $144 million in capital commitments.\n\n5CP invests in growing middle-market companies with a focused approach that taps into diversity as a tool to drive strong financial outcomes that can create transformative wealth opportunities for diverse communities and stakeholders. The firm’s investment strategy was designed to embrace an increasingly diverse world and create a platform that allows current and future business leaders to thrive.\n\n“Northern Trust and 5CP are building a strong and promising relationship as we support 5CP’s mission to drive economic and social impact for all of their stakeholders,” said Kimberly Evans, head of Corporate Sustainability, Inclusion and Social Impact at Northern Trust. “Northern Trust’s client-driven culture, technology and global reach provide a robust platform for diverse and emerging managers, and we believe 5CP’s commitment to positively impact investors and communities aligns with Northern Trust’s corporate values.”\n\nNorthern Trust Asset Servicing provides fund administration, fund accounting and investor services to 5CP through its Private Capital Administration unit, while Northern Trust Wealth Management provides comprehensive Banking services. In addition, 50 South Capital Advisors, LLC, a unit of Northern Trust Asset Management, served as an advisor to select investors seeking access to the fund.\n\n“As a next-generation private investment firm, 5CP has benefited from the financial strength, deep expertise and breadth of resources that Northern Trust brings to its clients,” said Marques Torbert, Co-Founder and Partner of 5CP. “Beyond being our financial partner, Northern Trust shares our vision to transform how business is conducted and to generate strong financial outcomes that can lead to economic and social impact.”\n\nAbout 5th Century Partners\n\n5th Century Partners (\"5CP\") is a purpose-...