Crestbridge secures new Bahrain licence
Crestbridge has been granted a new fund administration licence by the Central Bank of Bahrain.
The licence comes after the firm restructured its Bahrain business to accommodate Crestbridge’s future growth plans. This included separating its trustee and fund administration businesses into separate units, named Crestbridge Bahrain and Crestbridge Fund Services, respectively.
The fund administrator has operated in Bahrain for the past 17 years and acquired Ohad Trust in 2017. During this time, Crestbridge has provided fund administration and governance services to investment banks, asset managers, private equity funds, real estate funds and UHNW family offices in the Middle East.
“The 17-year anniversary is a pivotal milestone for Crestbridge Bahrain as we have seen assets under administration grow to over $6bn,” commented Bashar Bazian, managing director of Crestbridge Bahrain. “I’m delighted that the reputation we have built with our clients has been done with some of the best talent available in the region. We work with passionate, knowledgeable people who deliver first-class results and focus on the best outcomes as well as bespoke solutions for our clients. We look forward to continuing to build this hub of expertise in Bahrain. We thank our clients for their continued support and look forward to the future with them in this exciting market.”
The licence comes less than a year after Crestbridge received regulatory approval from the Central Bank of Ireland to provide fund administration services in Ireland.