Ocorian, a corporate and fund administration services firm, said it received regulatory approval on 29 October in a press release issued on 5 November.
Graham Dew, the outfit’s head of depositary services in Luxembourg, stated in the announcement:
“We are committed to growing a robust and responsive fund service offer for the Luxembourg market, and a localised depositary service is central to that.”
Dew wrote in a separate company blog post on 5 November:
“A depositary is an independent third party that is responsible for the oversight of the activity of each AIF.”
The company already had depositary businesses in London and Jersey.
Ocorian hired Dew and Yves Cheret as executive director of fund administration services earlier this year as part of its expansion plans.
Ocorian has been authorised to provide corporate services and act as a family office in Luxembourg since 2007, according to the website of Luxembourg regulator CSSF.
We are pleased to announce that we are now authorised to act as a #depositary to #AIFs in #Luxembourg in addition to our existing depositary capabilities in London and Jersey > https://t.co/4mZNn5KrG7#alternativeinvestments #funds #privateequity #realassets #infrastructure pic.twitter.com/1dvt7EQilh
— Ocorian (@ocorian) November 5, 2019