Beechbrook appoints RBS as depository for new private debt fund
Latest news
Beechbrook appoints RBS as depository for new private debt fund 15 December 2022Luxembourg Reporter: Lucy Carter
Image: REDPIXEL
Beechbrook Capital (Beechbrook) has selected RBS International Depositary Services (RBS) as depository for its most recent Luxembourg fund, Beechbrook Private Debt IV Senior.
Beechbrook invests in businesses in a variety of industries across the UK and Europe. The Private Debt IV Senior fund centres on private equity-backed European companies with €10 to €150 million in sales and EBITDA of at least €2 million.
For RBS, winning this mandate is a mark of its increasing presence in the Luxembourg alternatives market and an opportunity for the company to showcase its governance model.
The appointment follows the banking provider’s partnership with Beechbrook earlier this year, when NatWest Trustee and Depositary Services was named as depository for Beechbrook’s UK SME Credit III fund in mid-2022.
Matthew Hiscock, director of alternative funds at RBS International Depositary Services, says: “Having laid the foundations to work with Beechbrook as a new depositary partner earlier this year, we have further extended the relationship through our fast-growing Luxembourg offering.
“Our independence remains a key strength in our business credentials, where it allows clients to showcase a best-in-class model, as well as a clear separation from the role of the fund administrator and the critical oversight we provide as depositary.”
NO FEE, NO RISK 100% ON RETURNSIf you invest in only one asset servicing news source this
year, make sure it is your free subscription to Asset Servicing Times
Image: REDPIXEL 