Independent fund, trust and corporate services provider Crestbridge has acquired London-based real estate funds and financing firm Kingfisher Property.
Following regulatory approval from the FCA, Kingfisher Property has with immediate effect become part of the Crestbridge Group, which has had a London operation since 2015 providing a range of real estate accounting and reporting services. Crestbridge also has complementary offices in Jersey, Luxembourg, the Cayman Islands and Bahrain.
Kingfisher Property is a specialist firm providing finance advisory and administration services for both commercial and residential property. As a FCA-regulated fund operator, trustee and depositary it provides services to more than 100 UK real estate funds with assets under management of around £15 billion.
Paul Perris, group managing director, Crestbridge, said: “This acquisition represents a significant step forward in delivering our strategy to provide an enhanced and comprehensive range of services to our client base. Kingfisher Property’s services complement our real estate administration platforms in Jersey, London and Luxembourg and add further fund administration capability, including operator and depositary experience with FCA authorisation, to create a market leading offering.
"This move also demonstrates Crestbridge’s continued commitment to the UK real estate market. Since we opened our London office in 2015 our real estate business has witnessed considerable growth and the UK remains a hugely important strategic market to us.”
Simon Drewett, director, Kingfisher Property, added: “We have worked very successfully with the team at Crestbridge over the last few years on joint client relationships and see this as a very exciting opportunity to pool our expertise and resources to provide powerful, joined-up, value–added services to the UK real estate community.”
A full rebranding of Kingfisher Property is planned for later in 2018 to bring the business fully under the Crestbridge brand, when the team will also relocate to Crestbridge’s existing London office.
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