Jersey-based financial services group Crestbridge has been granted a funds administration licence in Luxembourg.
Awarded by Luxembourg’s financial services regulator, the Commission de Surveillance du Secteur Financier (CSSF), Crestbridge says the licence will allow it to provide a range of fund administration services from Luxembourg, complementing the management company (ManCo) solution it already offers from the jurisdiction.
Crestbridge established its ManCo in Luxembourg in 2011 and was one of the first businesses to establish an Alternative Investment Fund Manager in early 2014, providing a third-party solution for managers of 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 firm says the new licence enhances the business's capability to offer multi-jurisdictional solutions for fund managers. This includes fund administration, accounting, regulatory and governance solutions through its private equity and real assets teams in Jersey, London, Bahrain and the Cayman Islands, as well as Luxembourg.
Michael Johnson (pictured), Group Head of Fund Services at Crestbridge, commented: “Luxembourg is a major hub for alternative asset fund structuring and, 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 service to managers wanting EU investor access.”