RWB Chooses CACEIS As Depositary For PE Funds

RWB PrivateCapital Emissionshaus (RWB) has selected CACEIS as depositary.

The appointment sees Munich-based RWB complying with new obligations in the German Investment Act relating to the Alternative Investment Fund Managers (AIFM) Directive which came into force in July 2014. The mandate for RWB’s 20 private equity funds of funds totals €1 billion in assets.

“We have selected CACEIS, a company well-known for its extensive expertise in the area of closed-ended funds,” states Norman Lemke, managing director of RWB. “We were particularly impressed by CACEIS`s migration experience, which means a rapid implementation of KAGB requirements can be ensured.”

Holger Sepp, board member of CACEIS in Germany, says: “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.”