Crestbridge has established a branch of its Luxembourg Management Company (ManCo) in London as the business seeks to cement ties between the UK and Luxembourg and secure opportunities post-Brexit.
The move comes after Crestbridge received formal regulatory approval to establish a branch of its EU-based ManCo, the Crestbridge Management Company, in London.
Operating out of Crestbridge’s London office in Mayfair, the branch will act as a point of contact for London fund managers exploring the potential offered by an EU ManCo as part of their European market access strategy.
Crestbridge established its ManCo in Luxembourg in 2011 and was one of the first firms to establish an AIFM in early 2014, providing a third-party management company solution for managers of UCITS and alternative investment funds with pan-European distribution needs.
Daniela Klasén-Martin, the firm's Group Head of Management Company Services (pictured), said: “Our ManCo in Luxembourg was launched as a means for managers to navigate the Alternative Investment Fund Managers Directive, particularly in relation to its governance and oversight requirements.
"The environment has moved on significantly, however, and we now see managers increasingly being driven towards the ManCo platform by Brexit. Irrespective of when and how the UK exits the EU, it is almost inevitable that the position on cross-border passporting of financial products between the UK and the EU will change, and many UK managers will need to identify alternative arrangements in the longer term.
“Through our network of offices, we can provide solutions to fund managers, regardless of how Brexit pans out, but we see the Luxembourg ManCo – and greater cooperation between our London and Luxembourg offices – as being central to supporting managers with their structuring needs.”