GLL real estate picks CACEIS as depository 07 August 2013Munich Reporter: Jenna Jones
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GLL Real Estate Partners (GLL), the Munich-based real estate fund management company, has entrusted the depository function of its special-AIF fund to CACEIS.
The fund invests primarily in commercial real estate in Europe and the US.
CACEIS will ensure that the fund fully complies with the alternative investment fund manager’s directive and the Kapitalanlagegesetzbuch regulations in Germany.
Key to the selection of the depository was its ability to provide a unified cross-border offer as well as to meet GLL’s needs in the pension fund and insurance company sectors.
Rainer Goebel, founder and managing director of GLL, said: “CACEIS offers us a high quality range of services through two very important locations—Luxembourg and Germany.”
“The quality of its depository 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. He said: “We are delighted that GLL has selected CACEIS as depository. It is a sign of the confidence GLL has in our service offering, which can be relied upon throughout our extensive European network.”
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