Northern Trust has been appointed by Dublin-based TirNua Capital Partners to provide fund administration, depositary and banking services for its inaugural infrastructure fund, which has secured €340 million in commitments at first close, according to Business Wire. The appointment underlines the growing role of specialist financial services providers in supporting Ireland's expanding private markets infrastructure sector.

Business Wire reported that TirNua is a private markets investment manager focused on investing in critical infrastructure to support the low-carbon transition, primarily in Ireland. The firm was formed through a joint venture between Keyridge Asset Management, trading as Irish Life Investment Managers, and an affiliate global private markets investment firm.

The fund targets investment in renewable power, energy efficiency, renewable fuels, clean transportation and other infrastructure sectors, with a primary focus on opportunities supporting Ireland's transition to a lower-carbon economy, as well as other relevant OECD markets.

Melíosa O'Caoimh, Ireland country head at Northern Trust, said the firm had long-standing experience in supporting managers of private capital and meeting clients' requirements for oversight, expertise and control throughout the investment lifecycle, and added: "Our capabilities help administer a wide range of specialist asset classes and are complemented by deep expertise in supporting use of structures such as the Irish Investment Limited Partnership for alternative investments. We are delighted to bring this combination to support TirNua's inaugural fund."

David O'Brien, chief executive officer of TirNua Capital Partners, described the firm as Ireland's first dedicated private markets investment manager focused on infrastructure supporting the low-carbon transition, and said it combined deep local insight with institutional-grade capability. He added: "We are pleased to appoint Northern Trust as a key service provider that aligns with these priorities and supports our private capital strategies investing in critical infrastructure."

Northern Trust provides asset servicing solutions for global investment managers including fund administration, global custody, investment operations outsourcing and data solutions across a range of complex investment strategies. As of 31 March 2026, the firm had assets under custody and administration of US$18.6 trillion (approximately €17.1 trillion) and assets under management of US$1.8 trillion (approximately €1.66 trillion).

Access the full announcement on Northern Trust's appointment by TirNua Capital Partners.