Cresco Capital Management UK (CrescoCap) has received authorisation from the Financial Conduct Authority (FCA) to carry out asset management services in the country.

The company said that the need for FCA authorisation was fuelled by strong interest from existing and potential investors for direct regulation.

Set up in 2014 as an appointed representative under FCA regulations, London-based CrescoCap caters to institutional as well professional investors. The CrescoCap Multi Strategy Fund, which is the firm’s core proposition, trades in the G-10 currency markets.

The firm also offers UK asset management foreign exchange strategies, forex hedging and currency overlay, and financial wealth portfolio advisory.

CrescoCap managing director Derek Mayne said: “Our clients will appreciate the confidence and regulation that comes with FCA authorisation, and it gives our growing company the opportunity to take further advantage of London’s established financial infrastructure.”