Norton Rose Fulbright acts as a legal adviser to Northern Trust on launch of innovative blockchain technology for private equity sector

Business March 14, 2017

  • First commercial deployment of blockchain technology for private equity market

Global law firm Norton Rose Fulbright has acted as a legal adviser to Northern Trust on the first commercial deployment of blockchain technology for private equity fund administration.

Northern Trust together with IBM and other stakeholders launched a blockchain based on open source Linux Foundation Hyperledger Fabric for the administration of a private equity fund. The fund, domiciled in Guernsey, is managed by Swiss asset manager Unigestion which has over USD23 billion in assets under management. 

The blockchain solution allows the fund to transfer ownership stakes and be managed, serviced and audited throughout the investment lifecycle on a transparent but secure platform.

The network provides real-time insight and transparency to fund managers and investors as well as allowing regulatory access when required. Initially, Northern Trust will make the solution available to clients on a selective basis.

The Norton Rose Fulbright team advising on UK and other international legal aspects of the deal was led by partner Imogen Garner, who co-heads the firm’s FinTech regulatory practice, and included Albert Weatherill, Marcus Evans, Lara White and Judy Harrison.

Carey Olsen, led by partners Tom Carey and Mark Dunster and including counsel Richard Field, advised Northern Trust and Unigestion on all Guernsey law aspects of the launch. Mark and Richard advised Northern Trust, whilst Tom advised Unigestion.

Imogen Garner commented: “There have been many exciting advances in the financial technology sector and in particular in the area of blockchain. We were delighted to work with Northern Trust on this innovative project in the private equity space.”

For further information please contact:

Louise Nelson, Senior PR Manager
Tel: +44 (0)20 7444 5086; Mob: +44 (0)7909 684 893
louise.nelson@nortonrosefulbright.com

Notes for editors:

Norton Rose Fulbright is a global law firm. We provide the world’s preeminent corporations and financial institutions with a full business law service. We have more than 3500 lawyers and other legal staff based in more than 50 cities across Europe, the United States, Canada, Latin America, Asia, Australia, Africa, the Middle East and Central Asia. 

Recognized for our industry focus, we are strong across all the key industry sectors: financial institutions; energy; infrastructure, mining and commodities; transport; technology and innovation; and life sciences and healthcare. 

Wherever we are, we operate in accordance with our global business principles of quality, unity and integrity. We aim to provide the highest possible standard of legal service in each of our offices and to maintain that level of quality at every point of contact.

Norton Rose Fulbright Verein, a Swiss verein, helps coordinate the activities of Norton Rose Fulbright members but does not itself provide legal services to clients. Norton Rose Fulbright has offices in more than 50 cities worldwide, including London, Houston, Toronto, Sydney and Johannesburg. For more information, see nortonrosefulbright.com/legal-notices.

 

Contact