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CACEIS in Germany selected as depositary for GLL’s real estate funds
GLL Real Estate Partners GmbH (GLL), the Munich-based real estate fund management company, has entrusted the depositary function of its most recent special-AIF to CACEIS to ensure it fully complies with the AIFM Directive and the KAGB regulations. The fund invests primarily in commercial real estate in Europe and in the United States. Key to the selection of a depositary was the ability to provide a unified cross-border depositary offer as well as to meet GLL’s individual needs in the pension fund and insurance company sectors.
Rainer Goebel, Founder and Managing Director of GLL Real Estate Partners said, "CACEIS offers us a high quality range of services through two very important locations - Luxembourg and Germany. The quality of its depositary services, and extensive experience in servicing real estate funds, is a direct result of the group’s many years of experience operating in these markets."
Holger Sepp, Co-Head and Member of the Management Board of CACEIS in Germany, welcomed the new international partnership, stating, "We are delighted that GLL has selected CACEIS as depositary. It is a sign of the confidence GLL has in our service offering, which can be relied upon throughout our extensive European network.”
CACEIS is the asset servicing banking group 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).