This excerpt taken from the NTRS 10-K filed Mar 14, 2005.
Northern Trust Global Investments (NTGI)
Headed by Terence J. Toth, PresidentNorthern Trust Global Investments, NTGI, through various subsidiaries of the Corporation, provides a broad range of investment management and related services and other products to domestic and international clients of C&IS and PFS. Clients include institutional and individual separately managed accounts, bank common and collective funds, registered investment companies, non-U.S. collective investment funds and unregistered private investment funds, including funds of funds. NTGI offers both active and passive equity and fixed income portfolio management, as well as alternative asset classes (such as private equity and hedge funds) and traditional multi-manager products and services. NTGIs activities also encompass brokerage, securities lending and related services. NTGIs international business operates through subsidiaries, joint ventures, alliances and distribution arrangements with entities in Canada, France, Germany, Ireland, Italy, Japan, the U.K. and the Cayman Islands.
In 2004, Northern Trust substantially completed its integration of Deutsche Bank AGs global passive equity, enhanced equity and passive fixed income investment management businesses. Also in 2004, NTGI launched its first closed-end registered hedge fund of funds, the NT Alpha Strategies Fund, and its second private equity fund of funds, the Northern Trust Private Equity Fund II, Q.P.