Northern Trust has set up a private equity fund administration team to offer services to funds domiciled in Dublin. The administration se...

Northern Trust has set up a private equity fund administration team to offer services to funds domiciled in Dublin. The administration services include, financial reporting services, investor services and corporate governance services for funds, fund of funds, limited partnerships and companies. Paul Guilbert, head of private equity fund administration at Northern Trust, said: "Northern Trust is a first mover in Dublin in terms of officially declaring the formation of a dedicated, full-service private equity fund administration team. "By replicating the range of services we have been offering in Guernsey for over 20 years, our aim is to capitalise early on opportunities opening up in the Dublin market. We are already serving private equity clients in Dublin and are seeing a lot of interest in our market-leading solutions." Northern Trust, through its acquisition of Barings Financial Services Group in 2005, has had an established centre of private equity fund administration expertise in the offshore market of Guernsey since the mid-1980s. Dublin is now also becoming a more popular domicile for private equity and private equity related funds because it has the benefits of being an offshore centre whilst still being within the European Union, the latter being seen as beneficial by some investors given the drive towards tax harmonisation between the EU countries.