Broadridge's Private Market Hub Ecosystem Adopted by Emerald Technology Ventures

Broadridge Financial Solutions, one of the most well-known worldwide financial technology businesses, revealed on monday that Emerald Technology Ventures has adopted its Private Market Hub ecosystem to improve visibility and reduce transaction friction.

Accoding to Broadridge, its Private Market Hub applys blockchain technology in the private equity market for the first time. The solution helps the private equity market become more transparent by providing real-time data and a full view of the fund lifecycle. In addition, the Private Market Hub enables investment managers to manage, communicate and engage with investors and other stakeholders with better efficiency and data transparency, streamlined through a distributed ledger technology.

"We are pleased to have worked with Northern Trust and Broadridge on development of the Private Market Hub, using blockchain technology to deliver a full private equity ecosystem. Through the use of the Private Market Hub, we now can directly interact in real-time and have a full, 360-degree view of all of our Guernsey domiciled funds, giving us better oversight and flexibility moving forward," said Hans Dellenbach, Partner and Chief Financial Officer at Emerald Technology Ventures. 

"We are excited to have Emerald Technology Ventures join our groundbreaking Private Market Hub platform, which enables a frictionless digital experience for private equity stakeholders and participants. Investors have shown an increased interest in private assets over the past decade amid a search for returns, and Broadridge is creating innovative technology-based solutions to create better operational structures and scalability," Brian Crowley, Global Head of Product and Product Strategy, Broadridge Asset Management Solutions, added.

Northern Trust, a Nasdaq-listed financial services provider, has already successfully completed migration of four Emerald Technology Ventures funds to the Broadridge Private Market Hub, providing a fully transparent view into all funds and allowing for interaction in real-time.

Fazzaco has learned that Northern Trust and Broadridge reached an agreement in June 2019 to transfer Northern Trust's distributed ledger technology (DLT) platform for private equity (PE) asset servicing to Broadridge.

“Following the transfer of Northern Trust’s blockchain technology to Broadridge in June 2019, we continue to invest in cutting-edge technologies through thoughtful collaborations to deliver leading capabilities,” said Pete Cherecwich, President of Corporate & Institutional Services at Northern Trust.