Caceis wins AIFMD brief for real estate manager

real-estateA German-based property fund manager has appointed Caceis, the French depositary bank, to provide services for its closed-ended fund range under the Alternative Investment Fund Managers Directive (AIFMD). LHI Leasing, which also has subsidiaries in Poland and Luxembourg, has chosen Caceis to perform the depositary bank role for its closed-end funds and to establish an organisational framework for the launch of two “significant” real estate and renewable energy funds. The AIFMD is to be enacted into German law under the German Capital Investment Act (KAGB). “It was central to our decision that Caceis offers all relevant asset classes as a depotbank from the very start and is prepared to expand the offer to additional asset classes,” says Oliver Porr, managing director at LHI Leasing. In addition to real estate and renewable energy asset classes, LHI also intends to set up aircraft leasing and aircraft turbine funds and transfer these to Caceis for depositary services. Caceis is the asset servicing unit of Crédit Agricole and has assets under custody of €2.5 trillion and assets under administration of €1.3 trillion. ©2013 funds europe

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