Funds, corporate and family office firm Crestbridge has received AIFM authorisation by Luxembourg’s Commission de Surveillance du Secteur Financier (CSSF) to offers services to alternative investment funds.
Alternative Investment Fund Managers Directive (AIFMD), which came into effect in July 2013, mandates alternative managers to apply for a license to passport their funds by the end of July this year.
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Daniela Klasén-Martin, MD and country head of Crestbridge (Luxembourg) said that the company has already received license to offer services to UCITS funds under Chapter 15 of the law of 17 December 2010.
Klasén-Martin said: "Clients have been requesting this service for a number of months and we are delighted to be one of the first "Super ManCos" able to provide services to both types of funds."
Crestbridge will now operate as a ‘Super ManCo,’ offering outsourced fund management services to third party AIFs in addition to UCITS funds.
Klasén-Martin added: "We are now looking forward to helping our clients to meet the increasing risk management and reporting requirements required by the directive. Notwithstanding various exemptions, the majority of fund managers only have until 22 July 2014 to put in place all of the necessary changes."
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By GlobalDataCrestbridge’s Luxembourg-based team offers governance and substance services to a range of fund structures and strategies.
