Crestbridge has been granted its depositary licence by Luxembourg’s financial services regulator, the Commission de Surveillance du Secteur Financier.
Having been licensed by the FCA to provide depositary services in the UK since 2001, the new licence enables the firm to expand its support for fund managers in Europe.
Through its Luxembourg entities Crestbridge and Crestbridge Management Company, the business offers services to alternative investment funds wishing to access the European market.
These include management company, fund administration, accounting, regulatory, governance solutions and now depositary services to specialised investment funds, investment funds in risk capital, and alternative closed-ended funds invested in assets other than financial instruments.
Since establishing a presence in Luxembourg 12 years ago, Crestbridge’s service proposition has grown in line with the jurisdiction’s own growth. Crestbridge gained its fund administration licence in Luxembourg in 2019.
Kenneth Agu (pictured), who joined Crestbridge earlier this year as Head of Depositary Services in Luxembourg, said: “With this licence, we can now support our clients from around the world wishing to set up a Luxembourg-based AIF with a fully compliant, tech-enabled depositary solution from Luxembourg."