Northern Trust has appointed Robert P Morgan to lead a new unit, Northern Trust Alternatives Group, formed to develop and manage all alternative investment products, including hedge and private equity funds of funds, for institutional and personal clients.
Northern Trust Alternatives Group brings together portfolio management, product, sales and service teams to build on the private equity and hedge fund solutions that have been part of Northern Trust’s manager-of-managers business. Morgan, who had previously been Director of Private Equity, oversees approximately USD3.5 billion under management or advisory as Managing Director of the new group.
"Alternative investment products have experienced substantial growth at Northern Trust in recent years, and this new group is a clear sign of our commitment to innovation and client service in this area," says Stephen N Potter (pictured), President of Northern Trust Global Investments. "Under Bob Morgan, the Northern Trust Alternatives Group will be a centre of expertise for alternative investment solutions and products, allowing us to capitalise on the strong demand for these capabilities from our wide range of qualified investor clients."
Morgan has more than 20 years of financial industry experience and has invested in more than 100 private equity funds covering the buyout, venture capital, real estate and international markets. He sits on several fund advisory boards and is a board member of the Illinois Venture Capital Association. He received a BA in Economics from Wake Forest University and an MBA from Emory University. He reports to Chief Investment Officer Bob Browne.
"Northern Trust Alternatives Group presents an exciting opportunity to bring our experienced hedge fund and private equity investment groups together in a structure with strong operations support and enhanced client service capabilities," Morgan says. "As client demand continues to grow, we will address their sophisticated and customised needs with multiple sector and fund capabilities that can be packaged to meet their investment objectives."
Northern Trust offers hedge fund-of-funds products and customised portfolios that give investors exposure to multiple strategies and seek competitive returns while containing overall portfolio risk. The private equity program includes a series of private equity funds-of-funds and customisable multiple-manager portfolios, with a mission to generate returns while reducing risk through fund and sector diversification.
