Luxembourg’s financial services regulator, the Commission de Surveillance du Secteur Financier, has granted a funds administration licence to Crestbridge, which performs administrative and managerial services on a global scale. Political insecurity in the EU, brought about by Brexit, has overshadowed the deal.

Crestbridge already has a management company or manco in Luxembourg, which it set up in 2011. In 2014 it became one of the first businesses to establish an alternative investment fund management business there. It acts, in Crestbridge's parlance, as a third-party management company solution for managers of both Undertakings For The Collective Investment Of Transferable Securities (UCITS) and alternative investment funds with pan-European distribution needs. The business is also one of the only third-party mancos in Luxembourg to hold a European Venture Capital (EuVECA) licence.

Luxembourg is a major hub for alternative asset fund structuring and, with Brexit looming, this new licence will be of great comfort to Crestridge as it endeavours to go on providing services to managers that want access to HNW investors in the EU.