WP3.4.1 MS + BP1.6 = no access to BP settings

“You do not have sufficient permissions to access this page” is what I see when I try to access the BP1.6 settings from the plugin page.

Any idea who I can start setting up buddypress?

I have activated BP1.6 in a subsite of my WP3.4.1 MS installation.

Thanks and cheers, Alex