Hyper-V Volume Shadow Copy Requestor does not start (Error 1314)

The Hyper-V Volume Shadow Copy Requestor service throws this error when I try and start it:
"Windows could not start the Hyper-V Volume Shadow Copy Requestor service on Local Computer.

Error 1314: A Required privilege is not held by the client."

This is a 2008 R2 VM (integration services 6.3.9600.16384) running on a Server 2012 R2. This began happening after I upgraded to the latest integration components when I moved this VM to a 2012 R2 host.

Any help on this would be greatly appreciated!