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Press Release
10th December 2015
CACEIS becomes depositary for Savills real estate portfolio in Germany
Savills has selected CACEIS as the depositary for 6 real estate funds in Germany with a total volume of €4.1 billion. This decision is the result of a bidding process involving several German depositaries. It is expected that the migration will be completed by the end of 2015.
Savills Fund Management in Germany, belonging to the international real estate manager Savills Investment Management, recently assumed the asset management function previously performed by SEB Investment GmbH, and has appointed CACEIS in Germany as the depositary services provider. "CACEIS already provides depositary services for a range of investment funds in our portfolio and we are very satisfied with the value and quality of their services as well as their expertise in the real estate field. For these reasons, we have selected CACEIS as the depositary for the entire fund portfolio", explains Richard James, CFO of Savills Investment Management.
Holger Sepp, board member of CACEIS in Germany, commented on Savills decision: "We are delighted that Savills has again shown their confidence in CACEIS, and we believe it will enable us to significantly strengthen our business relationship. CACEIS is the largest third-party depositary for real estate and property funds in Germany and this new mandate further consolidates our strong position in the real estate sector."
More about CACEIS
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 execution, clearing, depositary and custody, fund administration, middle office outsourcing, forex, securities lending, fund distribution support and issuer services. With assets under custody of €2.4 trillion and assets under administration of €1.4 trillion, CACEIS is one of the world market leaders in asset servicing, the second depositary bank and the leading fund administrator for European funds (figures as of 31 December 2014).
www.caceis.com
More about Savills Investment Management
Savills Investment Management is the investment management business of Savills Group and has provided investment services for over 25 years. These services comprise separate accounts and investment mandates on an advisory or discretionary basis, and the establishment and management of pooled property funds. Savills Investment Management manages ca. €17 billion of assets worldwide. Savills Investment
Management has an experienced team located in 16 offices across Europe and Asia. Our clients include pension funds and insurance companies, banks, endowments and family offices on whose behalf we invest in office, retail, industrial and residential property. In addition to our asset management capability, we also offer comprehensive tax and structuring services as well as sourcing debt and putting in place hedging.
www.savillsim.com
Media contact
CACEIS Bank Germany:
Sven Klement
Phone: +49 89 5400-1863
sven.klement@caceis.com
Agency contact
Instinctif Partners
Anna Lena Kleine // Nora Bartha-Hecking
Phone: +49 221 420 75-30 // +49 221 420 75-38
annalena.kleine@instinctif.com // nora.bartha-hecking@instinctif.com
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