Societe Generale Securities Services (SGSS) has won the bid consultation process launched by CDC Entreprises to provide trustee services for 8 venture capital funds totalling more than 3 billion.
CDC Entreprises, a management company accredited by the AMF (French securities regulator) and a wholly owned subsidiary of the CDC Group (Caisse des Dpts et Consignation), mandated SGSS based on its trustee expertise, the quality of its broad portfolio of back-office services, as well as its ability to migrate funds rapidly and efficiently. More than 300 non listed shares were successfully migrated in less than a month.
SGSS is the 7th largest worldwide global custodian and the 2nd largest in Europe with 3 397 billion of assets under custody. SGSS provides custody & trustee services for 2,942 funds and the valuation of 4,362 funds, representing assets under administration of 452 billion. SGSS manages and calculates the current value of 35,000 complex product positions.
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