Key Takeaways
- • AEW Europe's German business won a €200m separate account mandate from pension fund manager ZVK to invest in commercial real estate across Europe.
- • The ZVK mandate manages pension funds for state employees in Saxony and is central to AEW Europe's German expansion, including a new Frankfurt office alongside its existing Düsseldorf office.
- • Over €100m of investments were already under exclusivity for the mandate, per portfolio manager Marc Langenbach.
- • AEW Europe completed €750m of German transactions in the last 12 months and manages €17.3bn in AUM, of which €1.2bn is in Germany.
Summary
AEW Europe's German business has secured a mandate from pension fund manager ZVK to invest €200m in commercial real estate across Europe, according to Property Week. The separate account is run on behalf of ZVK, which manages pension funds for state employees in Saxony, and was awarded as AEW Europe expands its presence in Germany by opening a new office in Frankfurt. The asset manager already has an office in Düsseldorf.
Marc Langenbach, portfolio manager at AEW Europe for the ZVK mandate, said the firm had already lined up a number of deals. He said the objective is to deliver a sustainable income return from a portfolio of assets in strong locations, and that over €100m of investments are already under exclusivity for the mandate.
AEW Europe completed transactions totalling €750m in Germany over the last 12 months and describes the market as a key element of its pan-European fund strategies. The firm also launched the European Value Investors (EVI) fund last year with a €700m target; it has secured almost €400m of investments in the UK, France and Germany to date.
Rob Wilkinson, chief executive of AEW Europe, said the firm has seen a significant uplift in German business activity over the last twelve months and expects Germany to be a key growth market over the next three to five years. Stephan Bönning, head of Germany, said the firm has strengthened its German team with senior additions and that, following the launch of EVI and the ZVK mandate, now is the right time to increase its footprint in the market. AEW Europe manages €17.3bn of assets under management, of which €1.2bn is in Germany.
Marc Langenbach, portfolio manager at AEW Europe for the ZVK mandate, said the firm had already lined up a number of deals. He said the objective is to deliver a sustainable income return from a portfolio of assets in strong locations, and that over €100m of investments are already under exclusivity for the mandate.
AEW Europe completed transactions totalling €750m in Germany over the last 12 months and describes the market as a key element of its pan-European fund strategies. The firm also launched the European Value Investors (EVI) fund last year with a €700m target; it has secured almost €400m of investments in the UK, France and Germany to date.
Rob Wilkinson, chief executive of AEW Europe, said the firm has seen a significant uplift in German business activity over the last twelve months and expects Germany to be a key growth market over the next three to five years. Stephan Bönning, head of Germany, said the firm has strengthened its German team with senior additions and that, following the launch of EVI and the ZVK mandate, now is the right time to increase its footprint in the market. AEW Europe manages €17.3bn of assets under management, of which €1.2bn is in Germany.
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