PARIS, 09-1-2015 — /EuropaWire/ — IDeA FIMIT sgr, the leading real estate management company in Italy with € 10 billion in AuM, has selected CACEIS as the depositary for its new closed-end real estate fund, Armonia.
The Armonia fund has assets of € 175 million and comprises 113 buildings, including some luxury properties. CACEIS Italy is already the depositary for several funds managed by IDeA FIMIT sgr.
This mandate consolidates CACEIS’s position among the key players in Italy’s real estate fund service sector. CACEIS is already the leading independent depositary in France and Germany for real estate funds and it holds a prominent position in Switzerland and Luxembourg.
Roberto Colapinto, Head of Regional Coverage for Southern European and Latin American clients for CACEIS Group, commented: “This is a prestigious mandate for us in the strategic real estate fund service sector, in which our clients benefit from our international experience and our complete understanding of the local market. The creation of a fund such as Armonia is a positive sign for real estate funds in Italy, which have huge potential for growth.”
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 depositary and custody, fund administration, middle office outsourcing, execution, derivatives clearing, forex, securities lending, fund distribution support and issuer services. With assets under custody of €2.3 trillion and assets under administration of €1.3 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 2013). www.caceis.com
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