Daniela Klasén-Martin of Crestbridge. Library picture: Luc Deflorenne
Crestbridge, a third party management company, has received a Luxembourg fund administration license.
The firm will “offer multijurisdictional and bespoke solutions for fund managers, encompassing fund administration, accounting, regulatory and governance solutions,” according to a 3 December press release.
It will focus on private equity and real estate funds.
Crestbridge has been operating in the grand duchy in 2011 and became an alternative investment fund manager in 2014. The outfit also has offices in Bahrain, Cayman Islands, Jersey and London. “Crestbridge, as a group, currently services assets valued at in excess of $120bn,” it stated.
Daniela Klasén-Martin, group head of management company services and managing director Luxembourg at Crestbridge, stated in the announcement:
“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.”
According to its website, Luxembourg’s financial regulator, the CSSF, officially granted the new authorisations on 22 October.