SGSS selected by Sofidy to provide depositary services for €3.7bn of funds

As part of the mandate, SGSS will provide depositary services to five of Sofidy’s alternative investment funds, including Sofidy Europe Invest.

By Wesley Bray

Sofidy has selected Societe Generale Securities Services (SGSS) to provide depositary services for five of its alternative investment funds (AIFs), with a total of €3.7 billion in assets under management.

Sofidy is a subsidiary of Tikehau Capital and an independent player in the consumer real estate fund market with a total of €7.6 billion under management.

The firm also acts as a reference asset manager in the real estate asset management landscape in France and Europe.

“SGSS’s proven experience in securities services for alternative funds as well as its ability to offer comprehensive and quality services to real estate AIFs were key factors in our decision,” said Jérôme Grumler, deputy chief executive of Sofidy. 

Sofidy Europe Invest, Sofidy’s SCPI which was launched last year, will receive depositary services from SGSS, alongside four other AIFs in the Sofidy range.

“We are delighted with this partnership with one of the biggest players in French and European real estate, which strengthens our position as a major player in securities services for real estate vehicles in France,” said Stéphanie Gaudoux, head of sales Continental Europe at SGSS.

In an interview with Global Custodian last year, SGSS chief emphasised the custodian’s focus on Europe, adding that its mission is about ensuring credibility in its existing markets, while expanding its products, services, and data and digitalisation efforts for its asset manager and owner clients.