The investment fund industry's first deployment of blockchain technology for the private equity market will 'enhance Guernsey's reputation' as a leading private equity hub,
Fintech company
The development will help solve the industry challenge of transparency by providing real-time access to data and a full view of the fund lifecycle.
It provides connectivity to existing industry tools and technologies to help further automate workflows between front, middle and back-office functions. The solution enables investment managers to manage, communicate and engage with investors and other stakeholders with greater efficiency and data transparency, streamlined through a distributed ledger technology.
Private Markets Hub is being developed as a full end-to-end lifecycle ecosystem for all private equity funds.
The PE Blockchain ecosystem was originally built by
Emerald is a venture capital firm building dedicated to tackling challenges in climate change and sustainability. It has managed and advised assets of more ?1 billion from its offices in
Dave Sauvarin, Head of Northern Trust Channel Islands, said: "The development is set to further enhance Guernsey's reputation as a leading hub for private equity funds - at the heart of technology innovation to support the digital transformation of the asset class for all market participants including both general partners and limited partners."
"Through the use of the Private Market Hub, we now can directly interact in real-time and have a full, 360-degree view of all of our Guernsey-domiciled funds, giving us better oversight and flexibility moving forward," he said.
For more information about Guernsey's finance industry please visit www.weareguernsey.com.
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