CACEIS NEWS 39 EN

2 caceis news - No. 39 - September 2014

Private Equity and Real Estate Solutions CACEIS’s dedicated PERES (Private Equity, Real Estate and Securitisation) team meets fund managers evolving needs with bespoke servicing through its offices in Europe, North America and Asia. Heads of sales from our PERES offices in Germany, Ireland, Luxembourg and France highlight the main local trends and the customised solutions designed to suit any structure, strategy or country throughout the investment life cycle.

NEW BUSINESS

RWB selected CACEIS as depositary for private equity funds RWB PrivateCapital Emissionshaus AG (RWB), based in Munich, has selected CACEIS as depositary under KAGB. RWB is thus complying with new obligations in the German Investment Act relating to the Alternative Investment Fund Managers (AIFM) Directive which came into force on 1 st July 2014. The mandate concerns 20 private equity funds of funds totalling €1 billion in assets. "We have selected CACEIS, a company known for its extensive expertise in the area of closed-ended funds," stated Norman Lemke , Managing Director of RWB. "We were particularly impressed by CACEIS' migration experience, which means a rapid implementation of KAGB 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 migration." CACEIS is market leader in Germany for depositary services to closed- ended funds following numerous mandate wins. €15bn in assets 16 real estate investment companies 100 real estate funds Over the past 12 months, CACEIS was awarded some 24 new depositary service mandates in Germany in the closed-ended fund sector. Closed- ended fund managers in Germany have recently undergone a period of restructuring led by the AIFMDirective which was implemented in July 2013. CACEIS offers a range of fully-compliant AIFMD services to private equity and real estate funds including aviation, renewable energy and shipping containers. AIFMD restructuring, together with the ongoing trend of outsourcing non-core business activities, has opened up many new opportunities for CACEIS to provide support services that go beyond traditional fund depositary services. requirements can be ensured." Holger Sepp, Member of the Management Board, CACEIS in Over 30 AIMFs (issuers of closed-ended funds)

CACEIS in Germany was quick to offer broad know- how across all types of assets and the ability to handle the specifics of closed-end funds.

HOLGER SEPP, Member of the Management Board, CACEIS in Germany

HEIKE FINDEISEN, Business Development Director, CACEIS

CHRISTIAN HOGREBE, Business Development Director, CACEIS

THE INCREASING IMPORTANCE OF THE DEPOSITARY IN THE FUND INDUSTRY Holger Sepp - German asset man- agers' initial reluctance to imple- ment the AIFM Directive has faded as the benefits of the new standards which have a distinct advantage in attracting investor money. Due to the new set-up, issuers, asset managers and institutional investors reassessed their respective business model, which consequently made them reconsider outsourcing tasks outside their core competences to external partners. CACEIS recog- nised the opportunities arising from this changing environment early on and was one of the first depositar- ies to prepare for them. CACEIS was quick to offer broad know-how across all types of assets and the ability to handle the specifics of closed-end funds. The Group was the market leader from the outset af- ter winning more than 30 mandates in the closed-end fund segment from well-known companies like LHI Leasing, GLL and reconcept. How important the capacity to service all asset types is, was con- firmed by the recent survey con- ducted by the German Association for Physical and Investment Assets (Bundesverband Sachwerte und Investmentvermögen e.V. – BSI) among its members. On average, they reported that there were five as-

reliability and cost efficiency. Over and above these quality-enhancing premium services, CACEIS also of- fers solutions which enable clients to create direct added value for their business. GLOBAL DEPOSITARY FOR CROSS-BORDER SERVICES Heike Findeisen - Non-EU fund managers, for instance from the US or Switzerland, who intend to distribute their products in different jurisdictions in the EU, will have to meet the new provisions of the AIFM directive and they will therefore become more reliant on suitable partners. In Germany, for example, the new investment guideline in chapter 330 of the German capital investment act (KAGB), requires managers to select a depositary. CACEIS, as depositary bank with a strong European foot print, is well positioned to assist clients who have an international distribution strategy in the key markets for real estate: Germany, Luxembourg, UK, France, Switzerland, Italy and Ireland. Aside from depositary solutions, CACEIS can offer assistance to cross-border fund distribution such as being infor- mation or representative agent for the structures. The Group's dealing room services offer key added value if transac- tions in the underlying real estate objects FX’s or hedges have to be executed

set types involved when requesting authorisation for newly-launched closed-end AIFs. The five most fre- quently mentioned were domestic and international real estate, infra- structure, renewable energies and aviation. The relatively high number of man- dates entrusted to CACEIS also shows that issuers, asset managers and institutional investors are look- ing for a single depositary partner who can handle all outsourced tasks, which enables a better understand- ing of shared processes and interfac- es. CACEIS has positioned itself as a provider of such one-stop-shop so- lutions. In addition, CACEIS offers a broad service range, a high rate of automation, the capacity to handle large processing volumes. Christian Hoegrebe - Understan- ding “real assets” is not the only key factor in the success of CACEIS. The company also places great emphasis on seamless client support. As an established depositary, CACEIS offers a clear project structure adapted to the individual needs of issuers, especially those of “real assets”. The depositary provides an experienced project manager who bears responsibility for project success and is available to both parties. The project manager as the required expertise in tangible products, knows the typical PROFESSIONAL ON-BOARDING SERVICE

processes of issuers and has the appropriate experience in launching structures with “real assets”. CACEIS sets up dedicated on- boarding teams which develop customised solutions for specific client requirements, facilitate short project lead times, reduce friction losses and minimise coordination problems. This enables optimal as- surance of issuers’asset managers' satisfaction as depositary clients in subsequent daily business opera- tions. CACEIS sets up dedicated on-boarding teams which develop customised solutions for specific client requirements. This flexible approach also permits CACEIS to manage the “cash ac- counts” of closed-ended funds in the bank itself or in a third-party bank which, for example, may be financ- ing a building or property. This in- cludes a flexible and transparent pricing model. In addition, a proven cash monitoring and inventory man- agement system at CACEIS is both technically and procedurally inte- grated into service delivery, ensuring a high standard of quality, process

EXPO REAL, in Munich is the biggest B2B trade show for property and investment in Europe and offers optimum conditions for efficient networking and extensive opportunities for market orientation and analysis. We look forward to welcoming you to HALLE A2, stand 540. Key people from our international offices will be on hand to discuss our bespoke solutions for your specific needs.

“The new AIFM Directive: Reporting on experience so far” Holger Sepp , Member of the Management Board, CACEIS in Germany Monday, 06.10.2014 / 17:00 - 17:50 Hall A2, Stand 540