Langham Hall is now licensed to provide depositary services to fund managers from its Luxembourg office, complementing similar licenses granted in London and Jersey.
The depositary license in Luxembourg authorizes the fund administrator to act as a depositary to closed-ended funds primarily investing in alternative assets, such as private equity and real estate funds.
The Alternative Investment Funds Management Directive (AIFMD) requires GPs to appoint a depositary to each fund that they manage. Already, Langham Hall is providing depositary services to 50 funds covered by the directive, according to a statement.
The fund administrator’s Luxembourg depositary team will be led by former PwC real estate auditor Antoine Bonte as well as Langham Hall Luxembourg director Clive Griffiths.
The new Luxembourg depositary license represents “a milestone” moment for the group, which is now able to provide combined administration and depositary services to a broad range of private equity and real estate focused funds established or marketed in Europe,” said Langham Hall group managing partner Rob Short.
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