SGSS mandated by Grosvenor to provide securities services for its first French real estate fund (OPCI)

Societe Generale Securities Services (SGSS) has been mandated by Grosvenor, a major global real estate player, to provide securities services for the launch of its first French real estate mutual fund (OPCI (1) ). This fund, which will have assets of almost 300 million euros, will be managed by Viveris REIM.

The mandate entrusted to SGSS includes:
-    Trustee services;
-    Custody services for financial assets;
-    Position-keeping for real estate assets;
-    Liability management services;
-    Accounting administration and valuation services.

As early as 2007, SGSS invested in IT systems and centres of activity dedicated to real estate investment funds. SGSS was thus one of the first trustees to provide a complete range of services for these funds and today is one of the major players on this market in France.

Grosvenor is a privately owned international property group specialised in real estate investment and development. Its expertise is carried out through subsidiaries located on four continents and the group also has an international multi-sector fund management activity. At the end of 2009, Grosvenor had 10.2 billion pounds in assets under management.

Viveris REIM is a real estate portfolio manager dedicated to institutional investors and companies and has 1.7 billion euros in assets under management at the end of March 2010. Its ten OPCIs that have already been authorised by the AMF (French regulatory authority) have enabled the company to develop a specific expertise in structuring OPCIs, real estate asset management, capital raising and fund management.

1 OPCI: Organisme de Placement Collectif Immobilier (French real estate mutual fund). Real estate investment vehicles for real estate professionals and individuals, their objective is to boost the non-listed paper real estate
market.