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Alter Domus is first professional depositary approved by the CSSF in Luxembourg

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Alter Domus is the first service provider to be authorised by the Luxembourg Financial Regulator (CSSF) to act as a professional depositary. 

Alter Domus has launched a depositary service to support its clients in meeting the new requirement for funds captured under the AIFM Directive to appoint an independent depositary.   
 
Laurent Vanderweyen, chief executive, says: “This is a natural evolution of our product offering, allowing us to provide a complete solution to private equity and real estate firms globally. We provide our clients with a vertically integrated approach, from outsourced fund administration to management of local companies, to which the depositary function is now added.”
 
Alter Domus will provide full depositary services to private equity and real estate clients. The role of depositary can be summarised in three main features; safekeeping of assets, cash flow monitoring; and other oversight duties such as overseeing fund compliance and transactions in relations with investors.
 
Subject to regulatory approval from the FCA, the firm is soon to launch depositary services in the UK. Alter Domus will continue to monitor the evolution of AIFMD regulation and, as needs and opportunities arise, will leverage its experience to provide such services in other relevant countries.  

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