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CACEIS has been selected by LHI Leasing for depository services under AIFMD
LHI Leasing has chosen CACEIS to perform the Depotbank role for the closed-end funds under the Alternative Investment Fund Managers Directive (AIFMD) and its national enactment in the German Capital Investment Act (KAGB). In the coming weeks, LHI and CACEIS will establish the organisational framework to launch two significant real estate and renewable energy funds.
“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 and Chairman of the Executive Board of the German closed-end fund association (VGF). 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 depository services.
Dr. Holger Sepp, Co-Head and member of the Management Board of CACEIS in Germany, considers this cooperation as a confirmation of CACEIS’s strategic focus: “For procedural reasons, issuers want a single Depotbank which can service all the required asset classes. We are proud that we were able to convince LHI Leasing with our comprehensive asset class know-how as well as our flexible service offer and support model.”
CACEIS is the asset servicing banking group of Crédit Agricole dedicated to institutional and corporate clients. Through offices across Europe, North America and Asia, CACEIS offers a broad range of services covering depositary and custody, fund administration, middle office outsourcing, derivatives clearing, forex, securities lending, fund distribution support and issuer services. With assets under custody of €2.5 trillion and assets under administration of €1.3 trillion, CACEIS is one of the world market leaders in asset servicing and the largest depositary bank and the premier fund administrator in Europe (figures to 31 December 2012).