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CACEIS becomes depositary for Savills real estate portfolio in Germany

Savills has selected CACEIS as the depositary for 6 real estate funds in Germany with a total volume of €4.1 billion. This decision is the result of a bidding process involving several German depositaries. It is expected that the migration will be completed by the end of 2015.

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Savills Fund Management in Germany, belonging to the international real estate manager Savills Investment Management, recently assumed the asset management function previously performed by SEB Investment GmbH, and has appointed CACEIS in Germany as the depositary services provider.

"CACEIS already provides depositary services for a range of investment funds in our portfolio and we are very satisfied with the value and quality of their services as well as their expertise in the real estate field. For these reasons, we have selected CACEIS as the depositary for the entire fund portfolio", explains Richard James, CFO of Savills Investment Management.

Holger Sepp, board member of CACEIS in Germany, commented on Savills decision: "We are delighted that Savills has again shown their confidence in CACEIS, and we believe it will enable us to significantly strengthen our business relationship. CACEIS is the largest third-party depositary for real estate and property funds in Germany and this new mandate further consolidates our strong position in the real estate sector."

Next Finance , December 2015

Article also available in : English | français

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