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IQ-EQ France supports Milleis Banque on its first retained securitisation transaction

15 May 2024

IQ-EQ is delighted to have supported French private bank Milleis Banque on its first retained securitisation, FCT French Prime Cash 2023, which is a rated cash securitisation of a performing residential mortgage portfolio.

Milleis Banque stands as the third-largest independent entity in French wealth management, catering to nearly 60,000 families and overseeing €13 billion of assets.

The private bank has been a client of IQ-EQ since 2022, and in this latest mandate our French fund management business is acting as the bank’s alternative investment fund manager (AIFM) for the fonds commun de titrisation (FCT) securitisation vehicle that is providing the financing in this transaction.

Advising the bank on this milestone securitisation transaction was international financial services firm, Alantra. Commenting on the support provided by IQ-EQ, Alantra’s Managing Director and Head of its Secured Fund and ABS team, Francesco Dissera, said:

“This is not the first time Alantra has worked with IQ-EQ in France. The team is extremely professional and was involved in all of the steps of this debut securitisation; they have been an essential counterparty for the success of this debut transaction. Given our previous experiences, we know they will support Milleis Banque and us in the post-closing and monitoring of this benchmark RMBS.”

Hugo Lavayssière, Head of Securitisation in the Fund Management team of IQ-EQ France, commented:

“We’re hugely proud to have assisted Milleis Banque on this retained securitisation transaction. It not only represents an important ‘first’ for the bank but is also a real highlight for our French team, having the opportunity to support our valued client in such a milestone transaction and showcase our comprehensive third-party AIFM capabilities in the securitisation space. I’d like to take the opportunity to thank the Milleis Banque team for their ongoing trust in IQ-EQ and I very much look forward to our continued collaboration with both Milleis and Alantra in the months and years ahead.”

Working with IQ-EQ has been seamless – you and your team understand our business, advise us appropriately, and handle your side of our collective partnership so that we can focus on making good investment decisions. Evan Gibson SVP, Merchants Capital

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