RWB meets KAGB requirements with CACEIS 16 September 2014Luxembourg Reporter: Catherine Van de Stouwe
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CACEIS has been selected as depositary for RWB PrivateCapital Emissionshaus to comply with new obligations in the German Capital Investment Act (KAGB) relating to the Alternative Investment Fund Managers Directive (AIFMD).
The new act was introduced alongside changes to AIFMD requirements in July 2014. The KAGB replaced the Investment Code and unifies investment law for open-end funds and closed-end funds.
The mandate is for 20 private equity funds with a total on €1 billion in assets.
Norman Lemke, managing director of RWB, said: “We have selected CACEIS, a company well-known for its extensive expertise in the area of close-ended funds. We were particularly impressed by CASEIS’s migration experience, which means a rapid implementation of KAGB requirements can be ensured.”
Holger Sepp, board member of CACEIS in Germany, said: "We are proud to have won RWB`s confidence on the strength of our service offer’s reputation in the market. RWB is the market leader for private equity funds of funds in Germany and has an extensive portfolio of international private equity investments with a wide range of funds of funds.”
“Due to the size of the mandate, the project required precise planning to ensure its smooth implementation. CACEIS has the necessary skill to carry out such a complex.”
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