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Broadridge’s PE platform open for US funds

by Alice Murray 8 September 2022

Broadridge’s private equity platform - Private Market Hub - is now available to funds domiciled in North America, having previously been only operational for funds based in Guernsey.

Private Market Hub is currently the only operational multi-tenant enabled platform for PE funds, with the ability to service funds across multiple jurisdictions powered by distributed ledger technology (DLT).

The platform is the first of its 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, Broadridge’s cornerstone client, has gone live with the first group of North American clients – marking a new milestone in the evolution of the platform.

"We are delighted that Private Market Hub is now available to North American domiciled funds – it comes at a time of explosive growth in the US, with PE fundraising tipping $400 billion and assets under management at an all-time high of $2.9 trillion," said Mike Sleightholme, Broadridge's president of asset management solutions. "This latest set of enhancements is a first for the industry. It creates workflow and operational efficiencies for both US and multi-jurisdictional funds, giving them the ability to standardize processes and data across jurisdictions, avoiding disparate silos of client data."

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 more efficiency. The platform is enabled by distributed ledger technology, which streamlines traditionally disconnected and inefficient processes and facilitates greater visibility across the ecosystem.

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