CACEIS in Germany has been appointed to act as depository for KGAL Investment Management GmbH.
The Germany-based asset manager mandated CACEIS for its eight closed-end funds with real assets including real estate funds and alternative assets such as renewables and aviation.
KGAL CEO Gert Waltenbauer said: "In the areas of real estate and alternative asset classes, CACEIS has both the necessary experience and the wide-ranging expertise. We are impressed by the group’s ability to enact smooth fund migrations in very short time and with a high level of flexibility. We are counting on all CACEIS’s strengths as a solid foundation for the future development of our business."
Holger Sepp, board member of CACEIS in Germany, said: "We are proud to be able to count KGAL, a well-established German asset manager, among our clients."
He added: "It further validates our strategy of supporting the growing field of real assets by designing individual, tailor-made solutions for clients."
KGAL has been managing real estate since 1968, and its main line of business is now providing investment opportunities for institutional investors.
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