AEW secures European separate account mandate from German pension fund
AEW has been awarded a new separate account mandate from a German pension fund for the establishment of a pan-European real estate portfolio.
The investor has initially committed EUR250 million of equity to be deployed into commercial and residential assets across Europe. With leverage the mandate will have a total investment capacity of EUR500 million. The mandate will be managed by the AEW’s German platform and will utilise the expertise and local knowledge of the wider European Group.
Dr Marc Langenbach, Head of Fund & Separate Accounts Germany at AEW, says: "The aim of the mandate is to build up a portfolio for our investor that is diversified over the long term across asset classes and locations, generating an increased return through active asset management. In this context, we will primarily focus on real estate transactions in markets that offer a special window of opportunity or locations that will benefit from attractive growth. We have already identified several investment opportunities for this mandate."
Stephan Bönning, Managing Director and Head of Germany & Central Europe at AEW, adds: "We are pleased that one of our existing clients has entrusted us with further expanding its real estate portfolio through a separate account mandate. The mandate was set up under our newly created AIFM and complements our German special fund platform."