Northern Trust expands partnership with Alchemy with Special Opportunities Fund

Northern Trust (NTRS) is expanding its relationship with Alchemy Partners, a private equity firm, to deliver asset servicing solutions for its latest special opportunities fund, Alchemy Special Opportunities Fund, or ASOF V. ASOF V surpassed Alchemy’s fundraising target, securing total commitments of approximately EUR1B. Northern Trust will continue to provide Alchemy with a range of services from its Guernsey office including fund administration, depositary, banking, custody and credit to support the launch of ASOF V. Northern Trust has supported Alchemy with its Special Opportunities business since its inaugural fund in 2006. Founded in 1997 and based in London, Alchemy is a private equity firm that specializes in investing in debt and equity special situations across Europe. The firm currently manages over EUR3B of AUM. ASOF V is set up as a Guernsey limited partnership with a feeder partnership for US tax-exempt investors. ASOF V will invest in mid-market corporate special situations across Europe through loans, debt and equity securities to access discounted value with low risk-attachment points.