One of Europe’s top fund administrators for property firms and other alternative asset managers has now been officially taken over by New York-based Gen II Fund Services.
Crestbridge, which was founded in 1998, has been acquired and will merge its operations with Gen II to provide clients with integrated services.
The acquisition of Crestbridge, first flagged last July, expands Gen II’s presence in Luxembourg and adds jurisdictional reach in the UK, Jersey, Ireland, and other international market. It also increases Gen II’s AUM to more than $1 trillion (€936 mln) and creates a roster of more than 1,700 professionals, representing one of the industry’s largest fund administration teams.
Dean Hodcroft, former CEO of Crestbridge, will lead Gen II’s European operations.
‘The integration of the Crestbridge team and capabilities into Gen II marks a major milestone in achieving our goal to be the leading global private capital fund administrator,’ said Steven Millner, CEO of the US firm.
