BNP Paribas Securities Services has been appointed by Partners Group, a global private markets investment manager, to provide depositary, fund administration and transfer agency services for the launch of its first European Long-Term Investment Fund (ELTIF) in Luxembourg.
BNP Paribas Securities Services says it was selected for its international reach and local market expertise in the product. The bank’s depositary network covers 13 fund domiciles.
ELTIFs are a new type of collective investment vehicle operating under the AIFMD (Alternative Investment Fund Manager Directive) regime. The ELTIF vehicle benefits from a European passport and can be marketed to both institutional and private investors across Europe.