Northern Trust's 50 South Capital hires PE vice-president

Northern Trust’s newly-formed subsidiary 50 South Capital has hired Chris McCrory as vice-president on the private equity team.

McCrory will focus on primary investment opportunities in US buyouts and direct co-investments.

He was previously at the mid-market growth and buyout PE firm Pamlico, where he participated in deal sourcing, due diligence, capital raising, deal negotiation and working with companies post-investment. Before Pamlico, he was an analyst at McColl Partners, according to his LinkedIn profile.

“Chris McCrory’s direct private equity and investment banking experience helps to strengthen and diversify our capabilities in private equity,” 50 South Capital managing director Robert Morgan said.

McCrory earned his Bachelor of Science from the University of North Carolina at Chapel Hill and his MBA from the Kellogg School of Management at Northwestern University.

50 South Capital is wholly-owned by Northern Trust and focuses on small- to mid-sized managers in the US, Europe and Asia, as well as on primary investments and equity co-investments.

Northern Trust, founded in 1889, has $946 billion in assets under management, as of 30 June. It manages $2.2 billion across six primary funds, two secondaries funds and a few custom accounts, according to PEI’s Research & Analytics division.

It formed 50 South Capital, which manages about $3 billion in assets, on 1 June. Its team was entirely transitioned from the Northern Trust Alternatives Group.

John O’Connell, Northern Trust media relations senior vice-president, told Private Equity International that of the $3 billion AUM, 50 South Capital has $1.7 billion in private equity AUM and $200 million in private equity assets under advisement, as of 30 June.