Hamburg-based investment manager Buss Capital has selected CACEIS to provide depository services for its funds managed under the new KAGB regime.
The KAGB regime is Germany’s implementation of the Alternative Investment Fund Managers Directive. It became effective in July.
CACEIS is the largest depository bank and fund administrator in Europe. In November, SachsenFonds, a real estate asset manager based in Berlin, mandated CACEIS to provide depository services for its alternative investment funds.
Dirk Baldeweg, executive director of Buss Capital, said: "Our aim was to select an experienced depository services provider to enable us to meet the KAGB regime’s obligations while focusing ourselves on asset management. We have found what we require in CACEIS.”
Holger Sepp, co-head and board member of CACEIS in Germany, added: "As an AIFMD-compliant depository, CACEIS serves a very broad range of asset classes. We are therefore delighted to handle the specific depository requirements of Buss Capital’s container funds as well as other assets, and look forward to strengthening our working relationship further in the future."
