Fineco Asset Management (FAM) has appointed Societe Generale Securities Services (SGSS) to handle fund administration, depositary and transfer-agency duties for its first private-equity fund in Ireland. SGSS will also provide local transfer-agency support in Italy.
The mandate is tied to FAM’s launch of an Irish-domiciled European Long-Term Investment Fund (ELTIF), targeted at FinecoBank clients in Italy. The ELTIF label is designed for long-term investment in private markets, and the new product marks FAM’s initial step into private equity under this framework.
Long-running cooperation
Fineco’s CEO Fabio Melisso said the firm focused on maintaining quality standards and operational efficiency when structuring its first private-equity fund, adding that the partnership with SGSS has been in place for many years.
SGSS’s Ireland country manager, Michael Clifford, described the appointment as part of a two-decade relationship between the firms. He said the mandate reflects SGSS’s experience in servicing alternative investments and its ability to support managers across European markets.
