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Northern Trust wins administration mandate for Earth Capital Partners fund platform

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Northern Trust in Guernsey has been selected to provide fund administration services for the fund platform managed by Earth Capital Partners, an environmental investment business establ

Northern Trust in Guernsey has been selected to provide fund administration services for the fund platform managed by Earth Capital Partners, an environmental investment business established last year that is chaired by former Man Group chief executive Stanley Fink.

Earth Capital Partners is a new investment business with a specialist focus on environmental investment and with an objective to raise USD5bn into the fund platform over the next five years.

The new platform has the opportunity to launch a series of closed end investment vehicles invested in such sustainable projects as solar power, waste-to-energy, southern hemisphere agriculture and may also provide financial backing for companies developing new environmental technologies.

"In selecting a fund administrator we were specifically looking for proven expertise in administering a range of hybrid funds,’ says Rufus Warner, chief executive of Earth Capital Partners. ‘Products in sustainable development are a new and exciting area of assets and Northern Trust has demonstrated the fund administration capabilities that respond to our unique requirements."

Earth Capital Partners, chaired by Stanley Fink, was launched in late 2008. At the launch event, Fink described the partnership’s objective as "to deliver attractive returns to our investors by investing in projects, companies and financial instruments, which address sustainable development challenges, such as climate change, water scarcity and energy security". The Guernsey-domiciled ECP Renewables Fund is one of the first investment structures to be launched to reflect those goals.

Kate Stallard, head of private equity, infrastructure and real estate sales at Northern Trust, says: "We are delighted to be working with Earth Capital Partners on this initiative addressing a growing need to engage in environmental solutions. As an experienced fund administrator, Northern Trust understands the complex nature of administering alternatives, particularly in intangible assets and looks forward to bringing this experience to bear in this new relationship."

Northern Trust provides a range of fund administration solutions for conventional funds and alternative asset classes including hedge funds, fund of funds, property funds, private equity, infrastructure and agriculture.

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