- 3 min
CACEIS provides depositary services for German fund initiator reconcept
reconcept GmbH, an initiator of closed-end funds in the renewable energy sector, has appointed CACEIS as its depositary in Germany. Since the beginning of July 2013, CACEIS has acted as funds trustee for investments into the currently active, closed-end wind energy funds of the company. Now, with the advent of the AIFM Directive and the German “Kapitalanlagegesetzbuch”, the Bank is expanding the scope of its depositary services for reconcept. CACEIS has assisted the fund provider in meeting the deadlines for the implementation of the legislation. The comprehensive and in-depth expertise of CACEIS as depositary in the field of renewable energies has encouraged reconcept in its decision to work with the group.
“We have found a reliable partner in CACEIS that is both willing and capable to offer a special set of services required for our transition into a fully-evolved AIFM,” says Karsten Reetz, Managing Director of reconcept GmbH. He also stated that a key reason for selecting CACEIS as provider was the group’s ability and flexibility in migrating funds.
“CACEIS has extensive experience of working with many types of alternative asset, and as such, is in an excellent position to offer AIFMD-compliant services, such as assistance in meeting the local depositary requirements to reconcept. Furthermore, our expertise in renewables meets reconcept’s current needs and we can provide effective support for its innovative business ideas,” stated Holger Sepp, Co-Head and Member of the Management Board of CACEIS in Germany.
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).
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