Deals & People June 1, 2015

A New Plan Administration Manager for TRA

The Retirement Advantage, Inc. (TRA), a retirement plan solutions provider, has appointed Charlie Pritzl as the firm's plan administration manager.
Reported by

In addition to his current responsibilities at The Retirement Advantage, Charlie Pritzl, the new plan administration manager, takes on leadership of a team of compliance analysts and quality control professionals. 

Pritzl will also be accountable for establishing and executing the firm’s growth strategies while improving client service and reducing costs. 

“Charlie has been a tremendous asset to this organization due to his extensive skills in quality control and operations,” says Matt Schoneman, president of TRA. He says Pritzl’s expanded role helps prepare the firm for future growth.

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Deals & People June 1, 2015

Northern Trust Spins Off Alternatives Group

Northern Trust Alternatives Group has been spun off into a separate investment boutique.
Reported by

Northern Trust has spun off and formed its alternative investing group into 50 South Capital, a new registered investment adviser and wholly owned subsidiary for the firm.

The new name refers to the home address of the parent company—50 South LaSalle Street in Chicago—and is meant to emphasize the “continuing connection to the global network and stability of Northern Trust.” Northern Trust believes 50 South Capital will bring “better platform growth, and investors will benefit from the firm’s greater autonomy in strategy and investment decisions.”

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Bob Morgan, managing director of 50 South Capital, says the investment boutique will provide investors with customized solutions through its access to unique and differentiated private equity and hedge fund managers in the small- and mid-market segments. The new company takes on $4.3 billion in existing Northern Trust assets under management and advisement, and will operate as a wholly owned subsidiary of Northern Trust Corporation. Its clients “will benefit from increased autonomy in strategy and investment management,” Northern Trust says, “while leveraging the global resources and network of one of the world’s largest financial institutions.”

Stephen N. Potter, president of Northern Trust Asset Management, says formation of 50 South Capital “marks a milestone for Northern Trust, better aligning our alternative investment talent with the marketplace for those solutions.”

The entire Northern Trust Alternatives Group team has transitioned to the new firm. Under its new governance structure, 50 South Capital Advisors LLC will become the investment manager of the firm’s alternatives programs.

“Investors will benefit from a highly motivated and aligned investment team at 50 South Capital, coupled with the resources and global network of Northern Trust,” Morgan says. “We believe this combination creates a competitive advantage that will position the firm well for continued access to unique managers, thoughtful portfolio construction, and asset growth.”

The assets of 50 South Capital include approximately $3.0 billion in assets under management and approximately $1.3 billion assets under advisement. More on the firm is at www.50southcapital.com. 

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