Northern Trust acquires Parilux Investment Technology

Northern Trust Corporation has finalised its acquisition of Parilux Investment Technology, completing its investment in the firm and its technology that was initiated in 2018. 

Northern Trust says the acquisition underscores it's commitment to its Front Office Solutions business, which provides a holistic data management platform for in-house investment teams managing complex, global multi-asset class portfolios. 

Front Office Solutions integrates Parilux’s software with a proprietary cloud-based web and mobile interface. The leading-edge technology, combined with Northern Trust’s global operations expertise and service, delivers innovative capabilities across data aggregation, enhancement and analytics to support asset owners in their investment decision-making, execution, and administration.

“Amid the pressure for operational alpha and investment decision efficiency on the part of institutional investors, it’s not enough to simply rely on technology alone. We must combine a market-leading technology solution with deep expertise and a high-touch service model in order to be most effective for our clients,” says Melanie Pickett, Head of Front Office Solutions at Northern Trust. “By taking the final step to bring Parilux’s team and technology under our own roof, Front Office Solutions can go even further to empower in-house investment teams. This is one of many important actions we are taking at Northern Trust to further our long-standing commitment to the asset owner community.” 

Pickett also now oversees the asset servicing business for endowments, foundations, healthcare organisations and public funds in the United States.

As institutional investors adopt data-driven approaches to asset allocation, their need for high quality data – and the technology to manage such data – has only increased. Northern Trust’s acquisition of Parilux addresses this need. The technology suite delivers an exceptional range of information and functionality, including investment book of record (IBOR), accounting and risk analytics for alternative assets, performance reporting and document management for investment teams of endowments, foundations, corporations, family offices and other sophisticated asset owners, focused on asset allocation and manager selection. 

"Growing with Northern Trust since the initial investment in 2018 has been a positive and exciting journey,” says Mark D'Andrea, Managing Partner and CEO of Parilux. “It has been rewarding to work toward shared technology goals and serve asset owners’ needs through robust analytics, client reporting, data visualisations and an overall full-service solution."

The Parilux acquisition and integration with Front Office Solutions marks yet another step forward for Northern Trust Whole Office – an advanced open architecture, multi-asset class solution serving diverse market participants including asset owners, asset managers, investors and third-party administrators. By integrating proprietary architecture with innovative partners, Northern Trust Whole Office facilitates client access to new technologies and capabilities across the spectrum of Strategy and Trading, Operational, Data and Digital and Analytics solutions.