Crestbridge receives Jersey ‘ManCo’ licence

Categories: 
Fund AdministrationOperations
18 Nov, 2015

Crestbridge in Jersey has been approved by the Jersey Financial Services Commission (JFSC) to provide Management Company (ManCo) solutions to Jersey funds.

The award of the licence means that Crestbridge is now one of only a handful of firms able to act on behalf of fund managers as an appointed management company, provide risk management oversight, oversee delegation for portfolio management, central administration and distribution and coordinate communication with third parties and regulators.

The innovative Jersey ManCo option is expected to be popular amongst promoters who wish to base their structures outside the EU. In addition, for promoters distributing into the EU via Private Placement, the Jersey option can also provide a quick and cost-effective AIFMD compliant registration process for Alternative Investment Funds.

The launch of Crestbridge’s Jersey ManCo service sits alongside its existing Luxembourg offering, meaning Crestbridge can now provide ManCo services for a full range of regulated funds to support both onshore and offshore distribution. Crestbridge in Luxembourg was one of the first to be granted AIFM licensing to become a provider of ManCo services to AIFs.

“Delegating the day-to-day management of a fund to an external agency has proven to be highly effective for some managers in a European context,” said Miranda Lansdowne, newly appointed director of Crestbridge in Jersey. “We believe that the Jersey ManCo model can offer a credible and cost-effective alternative for managers, such as those based in the US and Asia, wishing to access European and non-EU markets, without having to establish their own internal management entity.

“With more than 120 staff in Jersey, including professionally qualified and highly experienced investment fund professionals, risk managers and compliance specialists, Crestbridge offers the infrastructure, systems and dedicated personnel ‘on the ground’ to provide governance and substance solutions to a wide range of structures and with specific expertise in administering and managing real estate and private equity, we are well positioned to offer a compelling proposition for fund managers.”

Graeme McArthur, CEO, Crestbridge added: “We’re excited to have Miranda join the Crestbridge team here in Jersey. Her understanding and knowledge of the Channel Islands and Luxembourg markets, combined with her global expertise in alternative investment funds, will be invaluable as we look to extend and enhance our capabilities from Jersey and Luxembourg, and in particular drive the growth of our new Jersey ManCo option.”

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Crestbridgehedge fundsManCoJersey

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