The firm's hub, aimed at the private equity market and powered by blockchain tech, has so far been aimed at Guernsey-domiciled funds. It is now open for those in the US.

Broadridge Financial Solutions, a fintech firm, has released a multi-jurisdictional version of its private equity platform, Private Market Hub. It is now available to funds domiciled in North America. Its cornerstone client is Northern Trust.

The announcement coincides with the business's launch of Wealth InFocus, a “communications experience” based on investor research, with Cetera Financial Group as the first client. 

As far as Private Market Hub is concerned, it was previously used for funds domiciled in Guernsey. Broadridge said the hub is the “only fully operational multi-tenant enabled platform for the private equity” space powered by distributed ledger technology, aka blockchain.

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.

"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," Mike Sleightholme, Broadridge's president of asset management solutions, said. 

The hub automates and unifies workflows between front, middle and back-office functions while simultaneously protecting the integrity and sovereignty of data. It brings together various participants with a consistent, secure, real-time view of data – reducing friction for fund managers, investors and administrators, Broadridge said.