Crestbridge, a fund services provider for private equity and real estate funds, has been granted its depositary licence by Luxembourg’s financial services regulator, the Commission de Surveillance du Secteur Financier, CSSF.
The firm has already been licenced by the UK’s FCA to provide depositary service in the UK since 2001. Its Luxembourg licence enables it to further expand its capabilities in supporting a growing number of fund managers in Europe.
Crestbridge said its Luxembourg depositary services are offered to fund managers looking for cross-border distribution into the EEA markets and across the globe, building on existing services offered through London.
“With this licence, we can now support our clients from around the world wishing to set-up a Luxembourg-based AIF with a fully compliant, tech-enabled depositary solution from Luxembourg,” said Kenneth Agu, who joined Crestbridge earlier in the year as head of depositary services in Luxembourg.
In Luxembourg the firm operates as Crestbridge SA and Crestbridge Management Company SA and offers a range of services to alternative investment funds wishing to access the European market. Crestbridge offers management company, fund administration, accounting, regulatory, governance solutions and now also depositary services for specialised investment funds (SIF), investment funds in risk capital (SICAR) and alternative investment funds (AIF) of the closed-ended type invested in assets other than financial instruments.
The firm in 2014 was one of the first to establish itself in Luxembourg as an AIFM, Since 2019 it also operates under a CSSF fund administration licence.