Paris, November 16, 2016 – RBC Investor & Treasury Services, part of the Royal Bank of Canada (RY on TSX and NYSE), today announced that it has been selected by iBionext to provide custody services, holding liabilities and positions for its new ‘iBionext Growth Fund’ for institutional biotech investors.
iBionext specialises in the funding and development of innovative healthcare companies. An accelerator and builder of start-ups, iBionext is currently supporting the growth of seven companies in its network.
Alexia Perouse, Chief Executive Officer of iBionext, says: “We chose RBC for its expertise in private equity and for the quality of its services, particularly in launching and structuring innovative funds. The launch of our €100 -120 million fund, for which RBC will provide custody services, will enable us to finance innovative projects led by the start-ups in our network and attract institutional investors. RBC’s support during our first closing, which took place this summer, confirmed that our choice of a partner is a perfect fit for the development of our fund. ”
Philippe Legrand, Managing Director of RBC Investor & Treasury Services (RBC I&TS) in France, added: “We successfully demonstrated our ability to support iBionext as a true partner that can anticipate and adapt our innovative fund structuring services. Our client-centric approach and our organisational model, tailored for entrepreneurial management companies, enable us to support iBionext as it develops its business.”
RBC has been present in France for more than 100 years. Today, RBC I&TS is one of France’s largest providers of custodial services to the alternative investment industry, with around 550 funds under administration. It provides integrated solutions for private equity fund managers, particularly in securities processing and administration, while maximising operational efficiency. RBC I&TS also covers buybacks, venture capital, unlisted assets and investment strategies with mezzanine financing.
About RBC Investor & Treasury Services
RBC Investor & Treasury Services (RBC I&TS) is a specialist provider of asset services, custody, payments and treasury services for financial and other institutional investors worldwide. We serve clients from 20 countries across North America, Europe, Asia and Australia, delivering services to safeguard client assets and maximize liquidity. Rated by our clients as the #1 global custodian for six consecutive years (Global Custody Survey, Global Investor ISF, 2011 to 2016), RBC I&TS is trusted with nearly USD 3 trillion in client assets under administration (as at July 31, 2016).
Royal Bank of Canada is Canada’s largest bank, and one of the largest banks in the world, based on market capitalization. We are one of North America’s leading diversified financial services companies, and provide personal and commercial banking, wealth management, insurance, investor services and capital markets products and services on a global basis. We have over 80,000 full- and part-time employees who serve more than 16 million personal, business, public sector and institutional clients through offices in Canada, the U.S. and 36 other countries. For more information, please visit rbc.com.
RBC helps communities prosper, supporting a broad range of community initiatives through donations, community investments, sponsorships and employee volunteer activities. In 2015, we contributed more than $121 million to causes around the world.
For more information, please contact:
+44 (0)20 7653 4978
Yvonne Ball (Asia Pacific)
+852 2842 6652
Briana D’Archi (North America)
+1 416 955 5658
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