The Commission de Surveillance du Secteur Financier (CSSF) has granted a funds administration licence to global accounting, administration, management and corporate governance solutions provider Crestbridge.
The licence complements its management company (ManCo) solution, which it set up in the duchy during 2011.
The company says it was “one of the first businesses to establish an AIFM in early 2014, providing a third-party ManCo solution for managers of both Ucits and alternative investment funds with pan-European distribution needs”.
The funds administration licence “enhances” its capability to offer multi-jurisdictional and bespoke solutions for fund managers; encompassing fund administration, accounting, regulatory and governance solutions, the firm said.
Michael Johnson, group head of fund services at Crestbridge, described the licence as “another key step in our growth strategy”.