Crestbridge Family Office Services isn't covered by the transaction, it said.

Crestbridge Family Office Services will continue to operate as an independent organisation, it said yesterday after North American fund administration business Gen II Fund Services bought Crestbridge’s institutional businesses. 

The transaction, the financial terms of which were not disclosed, is expected to close in due course following customary regulatory approvals, Gen II said in a statement yesterday. Crestbridge, which was first established in Jersey, also operates in Luxembourg, New Jersey, New York, Ireland, and the  UK.

The CFOS firm said it is not part of the Crestbridge/Gen II deal.

“It will continue to operate independently and provide its private client, trust and fiduciary services whilst remaining privately owned,” CFOS said.

Heather Tibbo (pictured), who joined Crestbridge 10 years ago to establish the family offices services group, will become its CEO and Paul Hunter is managing director, it said.

Crestbridge is a global administration, management and corporate governance solutions business and provides outsourced fiduciary, administrative, accounting and compliance services. 

Gen II concentrates on serving private capital asset managers and investors. Founded in 2009, it has more than $1 trillion of private fund capital under administration.