Frankfurt am Main, October 10 2016

Bayerische Versorgungskammer and Universal-Investment launch real estate fund with EUR 3.6 billion target volume

Bayerische Versorgungskammer (BVK), Germany's biggest institutional investor, and Universal-Investment are to launch two new real estate umbrella funds as Luxembourg AIFs with a planned investment volume of EUR 3.6 billion. The two umbrella funds, which are based on the principle of separating administration and asset management, encompass a total of seven subfunds in which specialized real estate asset managers realize focussed strategies.


Two Luxembourg umbrella funds with seven asset managers

European Residential strategy with student flats and Nordic Residential

Real estate in Asia and Australia

Two subfunds of the umbrella fund for "European Residential" are focused on residential real estate in the Nordic countries (Nordics) and the Netherlands. The third subfund will invest directly and indirectly in real estate in the segments of student flats and micro apartments in the German-speaking area. The investment volume, including debt capital, lies at some EUR 1.7 billion.

The second umbrella fund has a target volume, including debt capital, of EUR 1.9 billion. It will invest in real estate and real estate shareholdings in the pan-Asian region and Australia. The various subfunds will each be managed by specialized asset managers. "With these two umbrella funds, we will be significantly expanding our real estate exposure once again in order to further diversify our investments. We are also making concrete plans for further real estate projects", says Norbert Fackelmann, responsible for real estate investment management at BVK. "The umbrella fund structure offers us the possibility on the one hand of specifically and flexibly engaging real estate specialists for each sector and geographic segment; on the other hand, it enables us to efficiently and transparently incorporate the funds into our overall investment management."

"With around 60 percent of the securities investments of institutional investors being managed via Master KVGs according to the principle of separating asset management and administration, this trend has now also established itself in real estate investment", explains Alexander Tannenbaum, Managing Director of Universal-Investment responsible for the real estate business segment.

About Bayerische Versorgungskammer

Bayerische Versorgungskammer is the competence and service centre for occupational and communal pension schemes and Germany´s largest pension scheme group under public law. It is the joint executive body of twelve liberal professions´ and communal pension schemes. Bayerische Versorgungskammer covers about 2 million insured persons in total, with contributions of €4 billion and €2.9 billion pension payments annually. It currently has €62 billion assets under management and 1,200 employees.
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