Bridgewater Taps Northern Trust for Hedge Fund Servicing
Northern Trust will provide Westport, Conn.-based Bridgewater—which manages about $140 billion—with services for replicating various administrative processing, trade processing, valuation, daily profit and loss (P&L), real-time reporting, cash management, foreign exchange (FX) services, investor and fund accounting, and collateral management services. Northern Trust will provide these services with the help of undisclosed third parties.
A spokesperson for Northern Trust notes that this agreement
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