Shared 17 April, 2024
Gen II Fund Services (Gen II) announced the successful close of the acquisition of Crestbridge.
The acquisition of Crestbridge expands Gen II’s presence in Luxembourg and adds jurisdictional reach in the UK, Jersey, Ireland, and other international markets, significantly broadening Gen II’s global service reach and product capabilities.
The acquisition increases Gen II’s assets under administration to almost €1 trillion and creates a roster of more than 1,700 professionals, representing one of the industry’s largest and most experienced fund administration teams. Dean Hodcroft, former CEO of Crestbridge will lead Gen II’s European operations.
With this announcement, Crestbridge becomes a fully integrated part of Gen II’s leadership and service capabilities, ensuring that Gen II and Crestbridge clients have immediate access to a growing range of high-quality, high-touch, multinational services and capabilities.
“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 Gen II. “Blending Crestbridge’s private equity and real estate fund administration businesses with our service offerings provides our clients with many more options to support their success and growth.”
“We look forward to continuing to invest in and expand our substantial European client footprint and bring clients a growing range of expert services,” said Dean Hodcroft, Gen II’s Head of Europe. “We look forward to empowering our unified teams to support international private fund managers through all stages of their fund lifecycles.”
