Alter Domus, a Luxembourg-headquartered provider of funds and corporate services, has been authorised by the UK Financial Conduct Authority to act as a depositary.

Alter Domus, a Luxembourg-headquartered provider of funds and corporate services, has been authorised by the UK Financial Conduct Authority to act as a depositary.

Alter Domus said in a statement that it had met the new requirement for funds captured under the Alernative Investment Fund Management Directive to appoint an independent depositary.

The firm, which also offers Luxembourg and Guernsey, said it will provide full depositary services to private equity and real estate clients, including those investing in infrastructure and debt.

The role of a depositary compliant with the AIFMD requirements can be summarised in three main duties: safekeeping of assets, cash flow monitoring and other oversight duties such as overseeing fund compliance and transactions with investors.

“We have recently made significant investment in the growth of our London office and this approval allows us to provide a complete solution to private equity and real estate firms globally, including enabling us to start onboarding clients that have selected us as their depositary,” said chief executive Laurent Vanderweyen.

Last month, Alter Domus bought French professional services firm Vigel & Associés. This followed the acquisition in May of O’ Donovan Stewart Corporate Services in Ireland.