SGSS chosen by Altarea Investment Managers as Trustee and Account Keeper for their first retail fund
Societe Generale Securities Services (SGSS) in France has been selected by Altarea IM as provider of trustee and account keeping services for their first retail fund (Société Civile de Placement Immobilier - SCPI). SGSS will also provide a bank guarantee specific to the SCPI and requested by the regulator.
Altarea was founded in 1994 and is today the leader in urban transformation in France. The Group has developed a unique real estate skills and development platform covering all classes of real estate assets.
Created in 2022 by Altarea Group and approved by the French regulator (AMF) in Avril 2023, Altarea Investment Managers is launching this year its first SCPI, "Alta Convictions", with strong fundraising ambitions.
SGSS was chosen for its recognised expertise in the asset servicing of real estate funds, in particular for its capacity to provide services and regulatory reports dedicated to this type of fund, declares Marc-Olivier Penin, CEO of Altarea Investment Managers.
We are delighted to have been able to strengthen the relationship with Altarea, which is a historical client of Societe Generale group, comments Stéphanie Gaudoux, Head of Coverage for Continental Europe at SGSS.
This agreement demonstrates the quality of SGSS’ services and the experience of its team of dedicated professionals in supporting asset managers dedicated to private markets, adds Romain Mifsud, Head of Private Markets sales France.
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