The UK's Financial Conduct Authority has authorised the registration of Cresco Capital Management (UK), the latest addition to a global asset management operation.

CCM is headquartered in London and will provide asset management services to both institutional and professional investors. Its main offering is the CrescoCap Multi Strategy Fund which trades in the G-10 currency markets. It will also offer clients asset management foreign exchange strategies, forex hedging and currency overlay and financial wealth portfolio advisory services.

Derek Mayne, the managing director of CrescoCap, 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. More investors can now enjoy our personalised, results-oriented approach to protecting and growing wealth."

CCM is part of the Cresco Group, which consists of CrescoCap, CrescoFX and the CrescoCap Multi Strategy Fund. CrescoFX was founded by engineer-turned-entrepreneur Derek Mayne in 2011 and was licensed in Malta in 2013 and then in the UK in 2017.

CrescoCap was established in 2014 as appointed representative under FCA regulations.