Crestbridge secures Luxembourg depositary licence

Luxembourg regulator CSSF has granted Crestbridge a depositary licence.

The licence permits Crestbridge to offer its services to specialised, alternative and risk capital investment funds. It will also enable the firm’s client expansion as it aims to support more European fund managers.

The depositary service will add to its management company, fund administration, accounting, regulatory and governance solutions.

Crestbridge will offer the service using fintech Depowise’s automated technology processes to improve accuracy and efficiency.

The firm originally obtained its fund administration licence in 2019.

Kenneth Agu, head of depositary services in Luxembourg at Crestbridge, commented: “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."

In February 2023, Crestbridge appointed Luxembourg-based Teodora Croitoru as head of compliance for fund services.