Fri, Dec 13, 2019
A A A
Welcome Guest
Free Trial RSS
Get FREE trial access to our award winning publications
Industry Updates

Crestbridge increases global funds proposition with Luxembourg funds administration licence

Wednesday, December 04, 2019
Opalesque Industry Update - Crestbridge has been granted a funds administration licence in Luxembourg in a move that significantly bolsters the company's capabilities in the jurisdiction and its multijurisdictional proposition for alternative fund managers.

Granted by Luxembourg's financial services regulator, the Commission de Surveillance du Secteur Financier (CSSF), the new licence enables Crestbridge to provide a broad range of fund administration services from Luxembourg, complementing the well-established Management Company (ManCo) solution already provided from the jurisdiction.

Crestbridge established its ManCo in Luxembourg in 2011 and was one of the first businesses to establish an AIFM in early 2014, providing a third-party management company solution for managers of both UCITS and alternative investment funds with pan-European distribution needs. The business is also one of the only third-party management companies in Luxembourg to hold a European Venture Capital (EuVECA) licence.

The new funds licence also enhances the businesses capability to offer multijurisdictional and bespoke solutions for fund managers, encompassing fund administration, accounting, regulatory and governance solutions, through its dedicated teams of private equity and real assets specialists and network of offices in Jersey, London, Bahrain, and the Cayman Islands as well as Luxembourg. Crestbridge, as a Group, currently services assets valued at in excess of US$120bn.

Commenting on the new licence, Michael Johnson, Group Head of Fund Services at Crestbridge, said: "This is another key step in our growth strategy as we look to build on our excellent track-record of delivering a high quality, solution-driven service for fund managers across a full range of structures and asset classes. Luxembourg is a major hub for alternative asset fund structuring and, particularly with the changing political landscape, this new licence will be a strong addition to our proposition of providing services in key domiciles and enable us to provide a holistic, bespoke and flexible service to managers wanting EU investor access."

Daniela Klasén-Martin, Group Head of Management Company Services, Managing Director Luxembourg at Crestbridge, added: "Over the past decade, we've seen consistent growth in our Management Company business, which can cater for all categories of assets. It's a model that clearly works for fund managers, offering a straightforward and cost-effective solution to marketing into multiple EU member states, with its appeal really accelerating in light of ongoing political events. Our new funds administration licence, a strategic decision supporting the demands of our existing multijurisdictional Group clients, adds significantly to our existing proposition in Luxembourg, complementing our Management Company solution, which will continue to be independent and an open architecture platform."

What do you think?

   Use "anonymous" as my name    |   Alert me via email on new comments   |   
Today's Exclusives Today's Other Voices More Exclusives
Previous Opalesque Exclusives                                  
More Other Voices
Previous Other Voices                                               
Access Alternative Market Briefing

 



  • Top Forwarded
  • Top Tracked
  • Top Searched
  1. 50 South Capital & Preqin highlight emerging manager outperformance in a new report[more]

    Bailey McCann, Opalesque New York for New Managers: New data from Preqin and 50 South Capital, the investment arm of Northern Trust, shows that emerging managers are outperforming established managers by almost 4% a

  2. An academic wrecking ball aims at hedge funds[more]

    From Bloomberg: Quant investing, and indeed much of the hedge fund industry, is built on the power and freedom that come with the ability to sell short. When you short a security (borrow and then sell it, meaning you make money if the price falls and you then re-buy it), you can profit when markets

  3. PE/VC: Private equity buys $101bn of European businesses, 30 under 30 venture capital 2020: Meet the young investors backing tech's next big thing[more]

    Private equity buys $101bn of European businesses From Bloomberg: European equities' cheap valuations have turned the region into a honeypot for private-equity and arbitrage funds looking to reap double-digit returns. With the buyout firms enjoying a massive amount of dry powder, especial

  4. PE/VC: The truth about private equity fund size, US VC investment in female founders hits all-time high[more]

    The truth about private equity fund size From Institutional Investor: As the end of the year approaches, institutional investors in private markets are wrapping up work on the last few funds we need to invest in to hit our targeted annual commitment levels. You see, private equity

  5. Crypto: Almost 70 crypto hedge funds have closed this year as institutional investors shy away, Central bank talk of launching cryptocurrencies is all bluff, Thailand and Hong Kong in crypto collaboration with cross border token project, Crypto loans see solid growth, platforms attract community interest, A Bitcoiner in the Senate? Is Bakkt CEO in US govt. good or bad for crypto?, Bank of France to test digital currency in 2020[more]

    Almost 70 crypto hedge funds have closed this year as institutional investors shy away From The Block Crypto: Nearly 70 crypto-focused hedge funds that largely cater to institutional investors, such as pension funds and family offices, have closed this year. The number of new fund