ArchiMed selects CACEIS as servicing partner for its latest €1bn fund
CACEIS, the leading European asset servicing group, has been selected to service the new MED Platform I fund run by ArchiMed, a Private Equity firm specialising in the Healthcare industries. The mandate covers depositary bank, custody, middle-office, fund accounting and financing services for the MED Platform I fund, which reached a €1bn final close.
MED Platform I, a mid-market buy-and-build fund, has attracted major commitments from a broad range of institutional investors and family offices across Europe (70%) and North America (30%). The over-subscribed fund held a final closing on July 31st , 2020 at a hard cap of € 1 billion. It targets growth companies in the European and North America mid-cap healthcare industries and provides the strategic, tactical and financial resources requiered to extend product lines and expand into new regions.
Denis Ribon, Founding Partner of ArchiMed stated: “Since winning the mandate for our second small-cap fund mandate in 2017, CACEIS’ Private Equity team has proven to be a reliable servicing partner, demonstrating its ability to deliver the comprehensive set of services we need. With its fully-integrated front-to-back servicing and financing approach, CACEIS has set the benchmark on the European market against which other providers are measured. By supporting our first two small cap funds, and our progression to the mid cap space, CACEIS has become a key partner in administering the €1.7bn under our management.”
Arnaud Garel-Galais, Group Head of PERES* Coverage and Business Development at CACEIS, added: “We are delighted that a leading Private Equity Healthcare specialist with a global reach like ArchiMed has reconfirmed its trust in our services and our staff by awarding us the mandate for their new MED Platform I fund. We have a detailed understanding of ArchiMed’s needs and have adapted and developed our services to meet their ongoing requirements. Furthermore, we are proud to service a fund with several portfolio companies that are playing a major role in tackling the COVID-19 pandemic.”
*PERES: Private Equity, Real Estate & Securitisation
CACEIS is the asset servicing banking group of Crédit Agricole and Santander dedicated to asset managers, insurance companies, pension funds, banks, private equity and real estate funds, brokers and corporate clients. Through offices across Europe, North and South America, and Asia, CACEIS offers a broad range of services covering execution, clearing, forex, securities lending, custody, depositary and fund administration, fund distribution support, middle office outsourcing and issuer services. With assets under custody of €3.9 trillion and assets under administration of €2.1 trillion, CACEIS is a European leader in asset servicing and one of the major players worldwide (figures as of 31 December 2019).
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