Independent corporate and fund services provider Crestbridge has seen the value of funds it administers grow from GBP1.84 billion in June 2013 to GBP15.06 billion in June 2014, representing an increase of more than 700 per cent.
Contributing to this growth were a number of key business wins for the firm. These included establishing and providing administration services to the Jersey-domiciled Kennedy Wilson European Real Estate fund, which raised GBP1 billion and became the second largest real estate IPO in LSE history, and being appointed to provide a range of administration and oversight services to a number of Jersey-domiciled asset management companies for a major US REIT asset manager with an approximate value of USD6 billion.
This has been bolstered by a number of additional new UK and continental European fund mandate wins and existing clients increasing their use of Crestbridge’s services, across the real estate and private equity asset classes.
Crestbridge also facilitated and completed the first registration in Jersey of an AIFMD-compliant private equity fund with the Jersey Financial Services Commission, and became one of the first to be granted Alternative Investment Fund Manager licensing by the Luxembourg regulator (CSSF) in order to become a provider of management company services to alternative investment funds.
Graeme McArthur, chief executive, Crestbridge, says: “It’s been an incredibly successful twelve months since the Crestbridge brand came into existence, as we have looked to focus on becoming a thriving player in carefully selected key markets. This is exemplified in these latest figures for our fund administration business, whilst right across the offices in Jersey and Luxembourg over the same period we have seen our total headcount grow by 37 per cent.
“We’re now looking forward to building on this success and have ambitious plans in place that will see Crestbridge secure its place as a market leader in its specialist fields and expand into new geographical markets.”
Crestbridge offers a range of fund, real estate, corporate, capital markets and family office services.
