Citywire Selector - For Professional Investors

Register to get unlimited access to Citywire’s fund manager database. Registration is free and only takes a minute.

German pension giant awards €150m REIT mandate

German pension giant awards €150m REIT mandate

Germany’s largest occupational pension fund has awarded US group Principal Global Investors a €150 million mandate to invest in real estate.

The award by Bayerische Versorgungskammer (BVK), which has €59 billion in assets, is part of plans to expand its global reach.

BVK said the move is designed to help further diversify its real estate exposure and also participate in the growth of the real estate investment trust sector.

Commenting on the award, a spokesperson for Principal Global Investors said: ‘Clients of our REIT portfolios e.g. not only profit from our long standing real estate expertise but can also build on our solid equity research as well as global research platform.’

Principal Global Investors said the award will help further develop its presence in the German market, having first established itself among the country’s institutional investors in 2003.

It has a dedicated German subsidiary based in Munich which also serves the Austrian and Swiss markets.

Speaking to Citywire Global in 2011, BVK’s head of asset management, André Heimrich, explained how the group had moved away from investing primarily in the bonds market to create a more diverse investment universe.

Leave a comment!

Please sign in or register to comment. It is free to register and only takes a minute or two.
Events
  • Citywire Thailand 2016

    Citywire Thailand 2016

  • Citywire Paris Alt Ucits 2016

    Citywire Paris Alt Ucits 2016

  • Citywire Deutschland 2016

    Citywire Deutschland 2016

  • Citywire Zurich Alt Ucits 2016

    Citywire Zurich Alt Ucits 2016

  • Citywire Montreux 2016

    Citywire Montreux 2016

  • Citywire Latin America 2016

    Citywire Latin America 2016

  • Citywire Amsterdam 2016

    Citywire Amsterdam 2016

  • Citywire Munich 2016

    Citywire Munich 2016

  • Citywire Milan 2016

    Citywire Milan 2016

  • Citywire Paris 2015

    Citywire Paris 2015

  • Citywire Paris 2015

    Citywire Paris 2015

  • Citywire Global New Ideas 2015

    Citywire Global New Ideas 2015

  • Citywire Global New Ideas 2015

    Citywire Global New Ideas 2015

  • Citywire Berlin 2015

    Citywire Berlin 2015

  • Citywire Berlin 2015

    Citywire Berlin 2015

  • Citywire Berlin 2015

    Citywire Berlin 2015

  • Citywire Alternative Ucits Retreat 2015

    Citywire Alternative Ucits Retreat 2015

  • Citywire Alternative Ucits Retreat 2015

    Citywire Alternative Ucits Retreat 2015