Key Takeaways
- • RREEF, the alternative investment management business of Deutsche Bank, has won a KRW500 billion separate account mandate from Samsung Life Insurance, Korea's largest insurer, valued at roughly $460 million (about €315 million).
- • The mandate is to invest in core real estate markets around the world on a separate account basis.
- • The win lifts RREEF's capital under management in Asia to approximately $3 billion.
Summary
RREEF, the alternative investment management arm of Deutsche Bank, has secured a KRW500 billion separate account mandate from Samsung Life Insurance, according to PERE, which reported the award on 18 January 2013. The mandate, converted by PERE at approximately $460 million (€315 million), directs RREEF to invest in core markets around the world on behalf of Samsung Life, Korea's largest insurance business.
The award brings RREEF's capital under management in Asia to the $3 billion mark, according to the report. The source material does not disclose the specific allocation between property types or regions, nor the duration of the mandate.
The story was written by Jonathan Brasse and filed under PERE's deals coverage, which also tracks investor and manager activity in Europe and North America. For institutional allocators, the mandate illustrates continued demand from Asian insurers for global core real estate exposure delivered through separate accounts rather than commingled vehicles.
The award brings RREEF's capital under management in Asia to the $3 billion mark, according to the report. The source material does not disclose the specific allocation between property types or regions, nor the duration of the mandate.
The story was written by Jonathan Brasse and filed under PERE's deals coverage, which also tracks investor and manager activity in Europe and North America. For institutional allocators, the mandate illustrates continued demand from Asian insurers for global core real estate exposure delivered through separate accounts rather than commingled vehicles.
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