Leveraging blockchain technology to alleviate the complexities faced by asset managers with funds in multiple geographies, Broadridge Financial Solutions, has launched a multi-jurisdictional version of its private equity platform, Private Market Hub, which is now available to funds domiciled in North America.
Previously operational for funds domiciled in Guernsey, Private Market Hub has been enhanced to support clients in the United States. Private Market Hub is currently the only fully operational multi-tenant enabled platform for the private equity (PE) market with the ability to seamlessly service funds across multiple jurisdictions powered by distributed ledger technology (DLT).
Broadridge’s new capabilities are the first of their kind in the private equity industry, allowing all stakeholders in a fund’s lifecycle to participate around a common set of data and workflows via a unified user interface, irrespective of the fund’s jurisdiction. Northern Trust, the cornerstone client, has gone live with the first group of North American clients – marking a new milestone in the evolution of the platform.
Private Market Hub automates and unifies workflows between front, middle and back-office functions while simultaneously protecting the integrity and sovereignty of data. It brings together ecosystem participants around a consistent, secure, real-time view of data – reducing friction for fund managers, investors and administrators, and enabling easier auditability. Funds can manage, communicate and engage with investors and other stakeholders with far greater efficiency. This innovative platform is enabled by distributed ledger technology, which streamlines traditionally disconnected and inefficient processes and facilitates greater visibility across the ecosystem.