Dutch Real Estate Manager Selects BNP Paribas for AIFMD Mandate

BNP Paribas Securities Services will provide post-trade services for Dutch-based a.s.r. Real Estate Investment Management.
By Joe Parsons(2147488729)
BNP Paribas Securities Services has been mandated to provide post-trade services for Dutch-based firm a.s.r. Real Estate Investment Management and a.s.r. Netherlands.

In compliance with the Alternative Investment Fund Management Directive (AIFMD), the mandate will place over €7 billion of a.s.r’s assets into BNP Paribas’s Dutch and Luxembourg-based depositories.

Under AIFMD, which came into effect on July 22nd of this year, non-UCITS (undertakings for the collective investment of transferable securities) funds in Europe must appoint a depositary bank for cash monitoring, oversight and safekeeping of assets.

“They are a very important name in the Dutch real estate and insurance industry, and we look forward to a very valuable relationship with them,” comments Marco Homburg, head of asset managers and asset owners, BNP Paribas Securities Services.

“We are able to bring our expertise to bear and work by their side to help manage their transition to the regime across various jurisdictions, investment strategies and asset classes.”

On Monday the Paris-based bank was also selected by Antin Infrastructure Partners, a French infrastructure fund, to provide AIFMD depository services.