Northern Trust wins mandate from world’s largest hedge fund

The deal will increase the US custodian’s assets under administration by more than $100bn

Northern Trust, the global custodian, has benefited from its acquisition of a hedge fund administrator in 2011 to win business from Bridgewater Associates.

Northern Trust said in a statement yesterday that it has been appointed by Bridgewater Associates to provide middle and back-office services for the hedge fund.

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