Crestbridge's institutional business acquired by New York-based Gen II

Monday 21 August 2023

The majority of Crestbridge has been bought by New York-based private capital fund administration provider Gen II.

Gen II has signed a definitive agreement to acquire Crestbridge’s institutional business, subject to regulatory approval. The terms of the deal have not been disclosed.

Founded in Jersey in 1998, Crestbridge provides a range of outsourced administration, accounting, corporate governance and compliance services.

Alongside the transaction, Crestbridge Family Office Services, as well as Crestbridge’s Bahrain and Cayman offices, have become independent businesses.

Crestbridge Family Office Services will continue to operate as a privately owned entity under the leadership of Heather Tibbo, who will now take the reins as Chief Executive Officer, and Paul Hunter, as Managing Director. 

The existing team will remain at the now-autonomous business. 

At the same time, the Bahrain and Cayman offices will each become separate businesses under their own brand names. Paul Perris will lead the team in Bahrain, while George Bashforth and Jonathan Bain will continue to lead the team in Cayman.

Dean Hodcroft, CEO of Crestbridge said: “The anticipated transition for all three businesses is set to be smooth and seamless for clients and our people, with expected continued growth under the guidance of their respective leadership teams.

“These changes will allow each business to focus on its unique strengths and deliver the tailored services that meet their clients’ evolving needs.”

Pictured: Crestbridge Family Office Services CEO Heather Tibbo.

Crestbridge Family Office Services CEO Heather Tibbo said: “Over the last 10 years, Crestbridge Family Office Services has demonstrated a clear focus on its specialism for families and ultra-high net-worth clients and advisers. 

“I am excited about the future for our business, our people, and the continuing opportunity to grow and develop our array of services, delivering excellence to our clients and advisers whose interests I firmly believe are best served by our remaining independent.”

Crestbridge employs over more than 450 people and has nine international offices: Bahrain, Cayman, Ireland, Jersey, London, Luxembourg, New Jersey, New York and Southampton.

Pictured top: Crestbridge CEO Dean Hodcroft.