Asset manager Tikehau and its service provider CACEIS have established the FCT Novo 2 French mutual securitisation fund.
Working with Tikehau, which manages the fund, CACEIS provides depository and accounting services, maintains the shareholder register and also acts as the settlement bank for the fund.
As a fund set up to lend to the French economy, the aim of FCT Novo 2 is to grant loans to small- and medium-sized enterprises (SME) in France to finance growth businesses.
Bruno de Pampelonne, chairman of Tikehau, said: “We put forward the name of CACEIS to funds’ initiators (the investors, the CDC and the FFSA), to act as depository for the fund’s cash and receivables. CACEIS performs that role for all of our mutual securitisation funds and we value the groups responsiveness, its fast handling of processes and the consistent quality of its services; the choice was clear.”
Deputy CEO of CACEIS, Joseph Saliba, said: “We are proud Tikehau IM selected us to co-found this French SME loan fund and have supported the group since they set up their first mutual securitisation fund. The CACEIS group has developed recognised expertise in the innovative financing arena and aims to play and increasingly important role in the securitisation market.”
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