Corporate services provider Sanne has been awarded a licence to provide professional depositary services in Luxembourg.
The firm’s Luxembourg office will now be authorised as a depositary for assets other than financial instruments held in custody. This will allow it to offer additional services to the alternative funds sector – including family offices – in line with the European Union’s Alternative Investment Fund Managers Directive (AIFMD).
Sanne, which operates from Jersey and Guernsey, opened its Luxembourg office in 2008 and provides fund and corporate administration services to global private equity, debt and real estate investment managers and institutional clients.
In respect of professional depositary, its areas of expertise include safekeeping and verification of documentation and assets, transaction and cash monitoring and maintenance of comprehensive asset registers.