Crestbridge to launch fund administration services in Ireland 

The fund administration licence further expands on Crestbridge’s strategy to grow in the world’s top fund domiciles.

By Joe Parsons

Private equity and real estate fund administrator Crestbridge has received regulatory approval to launch its services in Ireland, marking the latest firm to expand its capabilities in the country. 

The approval  from the Central Bank of Ireland (CIB) will further enhance Crestbridge’s Irish platform and significantly broadens its service capabilities for fund managers.  

“Regulatory approval of our fund licence enables our Irish team of industry experts to utilise their intricate understanding of complex multi-jurisdictional structures, as well as the operational, regulatory and marketing requirements to deliver Crestbridge’s agile, high-touch service solutions to the Irish fund industry,” said Andrea Lennon, head of fund services, Ireland, Crestbridge.  

“As specialists in private equity and real estate solutions recent changes, including the updates to the Irish Investment Limited Partnership (ILP) legislation, provide strong, compelling reasons for our clients to choose Ireland, and offers a complimentary, strategic fit with the wider Crestbridge business.”

In March, Crestbridge opened a new Dublin-based office, where the firm has already begun offering a range of integrated corporate services – including administration, accounting, governance and compliance services – to multiple Irishdomiciled company structures. 

The fund administration licence further expands on Crestbridge’s strategy to grow in the world’s top fund domiciles. In January, the firm completed the acquisition of New Jersey–based Ovation Fund Services, a provider of fund administration, accounting and reporting services to US domestic private equity and real estate funds. 

“Obtaining our fund licence in Ireland is key in delivering our strategic ambition to extend Crestbridge’s industryleading private equity and real estate services to managers and investors across Europe, with Ireland as a domicile well positioned for sophisticated global investors,” said Alex Di Santo, group head of private equity, Crestbridge. 

Crestbridge has become the latest fund administrator to expand its capabilities in Ireland, which has become a major domicile for cross-border distribution of alternatives investment funds into Europe and other global markets. 

In June, Alter Domus launched an Alternative Investment Fund Manager (AIFM) and depositary services business in Ireland, while in March, IQ-EQ also announced plans to launch a dedicated funds business in the country.