Northern Trust and IBM built a security-rich blockchain, or distributed ledger solution, based on the Hyperledger Fabric. It is available for use for handling the administration of a private equity fund run by Unigestion, a Geneva, Switzerland-based asset manager with $20 billion in assets under management - which is also advised by Carey Olsen.

The technology

The blockchain technology brings innovation to the private equity market, allowing Northern Trust to improve traditional business processes at each stage and deliver greater transparency and efficiency. It allows the fund to transfer ownership stakes and be managed, serviced and audited throughout the investment lifecycle on a transparent platform to participants who gain access via secured means.

The team

Partners Tom Carey and Mark Dunster along with counsel, Richard Field, led the Carey Olsen team advising on this product launch. Mr Dunster and Mr Field advised Northern Trust, while Mr Carey advised Unigestion.