U.S. Bank, one of the world’s top 10 custodians with USD6.8trn AuC/A, has appointed BNP Paribas Securities Services as its custodian in 11 European markets (Austria, Belgium, Cyprus, France, Germany, Greece, Italy, the Netherlands, Portugal, Spain and Switzerland), as well as local custody services in the UK and Ireland. The relationship covers over USD10bn in…
Category: Mandates
Pacific Oak Capital appoints CBRE for REIT admin
CBRE has been appointed the fund and property administrator for Pacific Oak Capital, a privately held asset management company that spun off from KBS Holdings in 2018. CBRE will provide services from property to fund-level accounting and compliance work for Pacific Oak Capital’s three existing REIT-structured funds. CBRE’s investment accounting & reporting solutions group offers…
IGM outsources fund services to CIBC Mellon
IGM Financial Inc. has selected CIBC Mellon to assume most of IGM’s fund services functions. This will add fund administration servicing solutions to the custody and related services that CIBC Mellon already performs for IGM. Once definitive agreements are complete, most IGM fund services employees in Toronto and Winnipeg (c.100 people) will transition to CIBC…
Griffin Capital selects NES Financial for OZ admin
Griffin Capital Company, a California-based asset manager, has appointed NES Financial to provide its Opportunity Zone fund administration suite. Griffin Capital’s alternative investment solutions include non-listed real estate investment trusts (REITs), actively managed interval funds, tax-advantaged Delaware statutory trusts (DSTs), and an Opportunity Zone Fund. “NES Financial is the only administrator we’ve found with the…
Aberdeen Standard hires Gen II for PEq funds in U.S.
Gen II Fund Services, a U.S.-based private equity fund administrator, has been named the exclusive fund administrator to certain private equity funds sponsored by Aberdeen Standard Investments Inc. and its affiliates. As part of the appointment, Gen II will provide fund accounting and reporting, fund administration and other related services to ASI’s U.S. private equity…
Arcis appoints NES Financial for OZ admin
Silicon Valley-based NES Financial has been contracted to provide its purpose-built Opportunity Zone fund administration suite to Arcis Real Estate Capital LLC, a U.S.-based investment management and advisory firm that sponsors and invests in real estate asset classes such as student housing, multifamily, senior living, and hospitality.
CTIM selects Northern Trust’s Integrated Trade Solutions service
Northern Trust has been appointed to provide its Integrated Trading Solutions service and MiFID II transaction reporting to Charles Taylor Investment Management (CTIM), the fund management business of Charles Taylor plc, a professional services and technology solutions provider to the global insurance market. CTIM has USD2bn AuM. The mandate expands CTIM’s existing relationship with Northern…
1618 Investment Funds selects SGSS’s CrossWise solution
1618 Investment Funds, the Luxembourg-based asset management company, has selected CrossWise, the front-to-back outsourcing solution offered by Société Générale, for its Luxembourg SICAV.
BNP Paribas wins USD7.5bn mandate from Colombia’s Protección
BNP Paribas has been appointed as global custodian by Protección S.A. and has onboarded Protección’s foreign portfolio of over USD7.5bn in assets. Protección S.A. is one of the largest pension funds in Colombia with over USD31bn in assets. One of its main shareholders is SURA Asset Management, which is a subsidiary of SURA Group, one…
BNP Paribas wins EUR8.6bn Pensioenfonds PostNL mandate
BNP Paribas Securities Services has been selected by Pensioenfonds PostNL to provide custody and value-added services. Pensioenfonds PostNL is the company pension fund of PostNL, and has a total asset base of EUR8.6bn. The mandate, effective from 1 January 2020, covers custody, investment accounting, investment compliance, regulatory reporting, and performance and risk analytics services.