After notice to terminate the management of the real estate fund took effect, the Funds were transferred from Savills Fund Management GmbH, the investment company (KVG), to CACEIS Bank S.A., Germany Branch, the Custodian Bank. Since then, CACEIS has been responsible for selling the remaining assets while preserving investors’ interests and for paying out the proceeds to investors, after adjusting for all costs and liabilities.
CACEIS has entrusted Savills Funds Management GmbH, acting as an external service provider, with the ongoing work on winding up the Funds at an operational level, in order to ensure that the knowledge of the Fund is retained and that the dissolution process goes as smoothly as possible. The tasks to be performed include providing support for the sales process and administration duties.
Savills Fund Management GmbH (former SEB Investment GmbH) is a leading European investor and asset manager on the commercial real estate market and belongs to the Savills Investment Management group.