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Alter Domus expands depositary services to the UK

Alter Domus has been authorised by the UK Financial Conduct Authority (FCA) to act as a depositary.

Alter Domus has launched a depositary service to support the alternative investments industry in meeting the new requirement for funds captured under the AIFM Directive to appoint an independent depositary.
 
Laurent Vanderweyen, chief executive, says: “Having been the first firm approved by the CSSF to provide depositary services in Luxembourg, we are now delighted to be approved by the FCA and launch our depositary services in the UK. We have recently made significant investment in the growth of our London office and this approval allows us to provide a complete solution to private equity and real estate firms globally, including enabling us to start onboarding clients that have selected us as their depositary.”
 
Alter Domus will provide full depositary services to private equity and real estate clients, including those investing in infrastructure and debt. The role of a depositary compliant with the AIFMD is: safekeeping of assets, cash flow monitoring and other oversight duties such as overseeing fund compliance and transactions with investors.
 
Przemyslaw Koger, UK head of depositary services, says: “Structures of alternative investment funds are often complex and the ownership of assets is normally established by looking through the chain of ownership of several investment vehicles often based in various jurisdictions. Therefore, appointing a firm experienced in the real estate and private equity industry like Alter Domus to act as a depositary will be decisive in responding to the new challenges set by the Directive.”
 
Alter Domus now offers depositary services in the UK, Luxembourg and Guernsey. 

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