During the last year, the fund market has remained very active and provided many new opportunities for the company, Mr Cheret says, including new launches and migrations. The directors at CSC Luxembourg knew they would have their work cut out for them, so this last year, much of their time was spent on meeting people, going to conferences.. Overall, the year has been a success for the company. With a sizable book of clients, they are now beginning to enjoy the fruit of their work..
CSC Luxembourg offers tailor-made services to alternative investment funds such as private equity, real estate, and debt. They are well-positioned to support new funds, and they target alternative investment funds that are close-ended. They offer Fund Administration together with Depositary or each of them on a stand alone basis.
We are flexible, and we adapt to our client needs. Our offer is very à la carte and tailor-made. Bigger players tend to insist on providing all the services, but we are open to specific requests.
One thing Mr Cheret and Mr Mifsud have learned is that even if the parent group is highly established – based in the US, it is 120 years old – it takes time to get the word out about its presence in Luxembourg. It was only in 2017 that CSC launched European activities at all, starting in Ireland, the UK, and Luxembourg, among other countries.
Even if we are a new business line, we bring significant expertise. We see that our attractiveness in the market has accelerated, and we are getting more and more referrals and contacts. Our first year’s investment of time and effort is really paying off.
While CSC Luxembourg is eager to become an important player, we realise that sometimes a slow and steady approach is best, especially coming from a parent company such as theirs, which is family-owned. They have a very long-term view, and this puts them in a unique position. They do not need to blow up figures for shareholders, nor deal with unexpected changes at the top levels.
“A key feature of CSC is stability, due in large part to low turnover. Clients feel very comfortable with this continuity. We offer a vision of steady development and long-term client relationships, and this is made possible by belonging to a family group that has enjoyed a stable shareholder base for more than 120 years.” -Pierre Mifsud, Managing Director Depository Services Luxembourg at CSC Luxembourg
It is not only expertise and a recognised history that CSC Luxembourg brings to the table. As a newcomer to the market here, they want clients to know that management is very close to the work that is done, and they take a hands-on approach. Mr Cheret and Mr Mifsud are often greatly involved, participating in calls with clients, for example.
“We are flexible, open, agile, available, and we offer tremendous technical expertise. As our structure is smaller than others, clients feel better supported.” -Yves Cheret, Managing Director and Head of Fund Services at CSC Luxembourg
To find out more about CSC Luxembourg’s services, .