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CMS Hasche Sigle advises JAMESTOWN on BaFin approval

20/03/2014

Frankfurt/Main – Cologne-based JAMESTOWN US-Immobilien GmbH has become one of the first companies to receive authorisation from the German Federal Financial Supervisory Authority (BaFin) to continue to launch, manage and market closed-end real estate funds in Germany. The new German Investment Code (KAGB) which came into force in the summer of last year means that closed-end funds are now subject to new capital market regulations.

A CMS Hasche Sigle team led by Dr Joachim Kaetzler provided legal advice to JAMESTOWN over an extended period on gaining approval as an investment management company. In addition to support with the licence application and assistance during the actual administrative process vis-à-vis BaFin, this also included comprehensive advice and support around setting up and reconfiguring structures and processes within the company itself. The functions involved include compliance, risk management, fund management, fund structuring and internal auditing.

JAMESTOWN is one of the leading providers of US real estate funds for investment by private investors in Germany. The company has been acquiring, managing and selling commercial properties in the United States since 1983. As at the end of 2013, real estate assets under management amounted to around seven billion US dollars, more than half of which is attributable to US real estate funds for private investors in Germany.

CMS Hasche Sigle

Dr Joachim Kaetzler
Andreas Feneis, both Banking Regulation

Press Contact
presse@cms-hs.com

Press releases
Press Release Jamestown, 20/03/2014
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