Asian insurance companies award USD200m mandate to CBRE Global Investors
A collection of large Asian insurance companies has awarded a USD200m discretionary global mandate to CBRE Global Investors’ separate accounts group to build a core/core+ US and Europe real estate portfolio.
The mandate, which is expected to grow over time, will target both debt and equity investments across property sectors in the top 25 markets in the US and large urban zones in the UK, France and Germany.
CBRE Global Investors has seen significant growth in its separate accounts platform, which provides clients with more customisation and control over how their capital is invested. In 2013, the firm raised USD3.3bn of capital for separate accounts, including USD1.2bn to be invested cross-border. Asian investors have been particularly active deploying capital via separate accounts in Europe and the US.
“Investors are increasingly diversifying their real estate portfolios by looking abroad,” says Matt Khourie, global chief executive officer of CBRE Global Investors. “Due to our broad geographic scale and consistent regional competencies, we are a global leader in separate accounts and have a unique advantage to migrate capital across borders efficiently and effectively.”
“Having real estate experts based in the client’s home country helps facilitate communications in the same language and time zone. This, coupled with on-the-ground experts in the target markets, allows for best-in-class execution,” says Peter DiCorpo, Americas head of separate accounts for CBRE Global Investors. “Working with my counterparts in other regions, we were able to create a seamless global solution.”
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