Societe Generale Securities Services (SGSS) in Italy has been selected by Clessidra Private Equity SGR to provide depositary bank services for its closed-end alternatives investment fund, Clessidra Capital Partners 4.
The Clessidra Capital Partners 4 fund recently closed its latest funding round with around €270 million from some of Italy’s primary institutional investors. The next stages of fundraising for the Clessidra Capital Partners 4 fund, which has an overall target of €500 million, will be focused on Italian and international institutional investors.
“We are very pleased to have started the collaboration with Clessidra SGR and to accompany the company in its strategic role of supporting the excellence of the Italian mid-market and, we are sure, its future growth”, said Marco Mosca, head of coverage, marketing & solutions at SGSS in Italy.
“The assignment given to us for the Clessidra Capital Partners 4 fund confirms SGSS S.p.A.’s attention and commitment to the alternative funds segment, which represents one of the pillars of our strategy.”
SGSS Italy provides post-trade services to institutional investors, including custody and settlement, depositary and fund administration services, middle office, liquidity management, transfer agent and risk and performance management.
Earlier this year, SGSS was chosen by Invimit SGR, a company held by Italy’s Ministry of Economy and Finance, to provide depositary bank services for the new Dante real estate fund.
The mandates adds to a growing list of Soc Gen’s depositary and fund administration business wins, which have included Alpha Real Capital, Fineco Asset Management and Absa Wealth and Investment Management.