Crestbridge says it has been approved by the Jersey Financial Services Commission (JFSC) to provide Management Company (ManCo) solutions to Jersey funds, adding to its offshore and onshore alternative fund servicing and management capabilities.
Crestbridge says that the award of the licence means that it will now be one of only a handful of firms in Jersey 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.
It says it expects the option to be popular amongst promoters who are familiar with Jersey’s existing range of fund regimes and who wish to base their structures outside of the EU with a manager able to demonstrate real substance, which is essential in the current climate of regulatory reform, in light of BEPS and the greater focus on anti-avoidance generally. 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.
Crestbridge says it has also continued to strengthen its alternative funds capabilities with the appointment of Miranda Lansdowne as director. Based in the Jersey office, she will draw on her experience of the onshore and offshore alternative investment funds landscape to lead the development and growth of the Jersey ManCo business.