Gide, counsel to ACOFI Gestion on setting up their new securitisation mutual fund LF Predirec Immo IV

Gide has advised ACOFI Gestion, a portfolio management company, on the creation of their securitisation mutual fund (FCT) LF Predirec Immo IV.

This fund, set up on 28 April 2015, is compliant with the FPE regime (fonds de prêt à l’économie, or French loan fund for the economy), created in accordance with the decrees of 2 August 2013 and 17 December 2014.

It will be used to invest in senior funding facilities for commercial and residential property assets held by corporate entities, which enjoy the usual security for this type of funding. The funding can be either in the form of loans or bonds. The property assets financed are located for the most part in France and in the rest of the Euro zone.

LF Predirec Immo IV is ACOFI Gestion’s fourth vehicle for this class of asset.

The Management Company is ACOFI Gestion. CACEIS Bank France is the Custodian.

Gide’s team comprised partner Gilles Saint Marc and associates David Aumain and Constance Bouchet.

Gide has also advised ACOFI Gestion on the setting up of the securitisation mutual fund Predirec Innovation 2020, and on the second closing of their securitisation mutual fund (FCT) Predirec Leasing Stratégique.