Luxembourg regulator CSSF has awarded one of the first AIFM licenses to Crestbridge, the funds and corporate services provider, who will now be able to provide alternative investment funds with management company services.
Crestbridge was already authorised to provide services to UCITS funds under the 2010 law, but had to gain this additional authorisation. Daniela Klasen-Martin, managing director and country head for Crestbridge in Luxembourg, described gaining this authorisation as a challenge, requiring significant work.
Luxembourg was one of the first jurisdictions to implement the regulations Alternative Investment Fund Management Directive, after it became national law in July 2013. There is continued discussion regarding the impact of these regulations both in in Luxembourg and the rest of the EU.
SOURCE: AST 20/03/2014