Gen II appoints director of PE funds in Guernsey

Gen II Fund Services has announced the appointment of Niel Krastin as Director of Private Equity Funds in Guernsey, enhancing its local fund administration capabilities. Krastin boasts 20 years of expertise in financial services and fund administration, encompassing areas such as fund accounting, financial reporting, operations, and client service.

He most recently held the position of Client Relationship Director, Funds, and has previously served in various senior fund administration and client service roles in Guernsey. Krastin, who and his family have resided in Guernsey for several years, previously spent over 12 years in South Africa's asset management sector, with more than eight years leading a fund accounting division.

Matt Beresford, Gen II's country head for the UK and Channel Islands, emphasized Krastin's technical prowess, client service experience, and familiarity with the Guernsey market, stating that these attributes will bolster the company's expanding local presence. The appointment comes in the wake of Gen II securing licenses from the Guernsey Financial Services Commission to provide fund administration services for private market structures in the jurisdiction, driven by the growing demand from asset managers operating in Guernsey.

The move expands on the firm's existing operations in the Channel Islands. Gen II's chief commercial officer, Michael Johnson, highlighted the company's intention to merge experienced local teams with its technology, international reach, and operational scale as private funds and investor requirements become increasingly complex across jurisdictions.