A new institutional real estate fund is being launched for Bayerische Versorgungskammer (BVK) on Universal-Investment’s AIF platform in Luxembourg, which should achieve a total volume of EUR 250 million. BVK is one of the largest institutional investors in Germany, managing assets of approximately EUR 69 billion. BLUE Asset Management was mandated to provide investment advice and real estate management services. The fund primarily invests in Austrian retail parks in established locations with solid fundamental data. Austria is considered one of the most stable and economically strongest European countries. The investment focus is on established and modern retail concepts, which primarily provide local and basic services for the catchment area. These include retail parks and centers of city districts, specialist stores, city markets, convenience stores in city districts and local supply centers.
As an initial investment, eight retail properties have been acquired in Austria. The properties are leased to market-leading retailers with a strong food retail anchor on a long-term basis in integrated locations with a total rental area of around 70,000 m².
Bayerische Versorgungskammer is the competence and service center for occupational and communal pension schemes and Germany´s largest pension scheme group under public law. As a public authority of the Bavarian Ministry of the Interior, it is the joint executive body of twelve liberal professions´ and communal pension schemes. Bayerische Versorgungskammer covers about 2.2 million insured persons in total, with contributions of EUR 4.4 billion and EUR 3.2 billion pension payments annually. It currently has EUR 69 billion assets under management and 1,200 employees.
With fund assets in excess of about EUR 355 billion under administration, thereof EUR 295 billion in own vehicles, over 1,100 funds and investment mandates and a workforce of around 650, Universal-Investment is the largest independent investment company in German-spoken Europe. The focus lies on the efficient and transparent administration of funds, securities, real estate and alternative asset classes. The 1968 founded company is headquartered in Frankfurt/Main and has subsidiaries and holdings in Luxemburg and Austria. As pioneer of the investment industry Universal-Investment is now market leader in the areas of master-KVG and private label funds. Owing to the strong growth since starting the real estate business in 2011, Universal-Investment established itself as largest companies for institutional open-ended real estate funds in Germany. According to the 2017 PwC ManCo Survey, Universal-Investment is the largest AIFM ManCo in Luxembourg; among the Third-Party-ManCos, Universal-Investment ranks in second place. (As per 31 December 2017)
BLUE Asset Management is a full-service asset manager for commercial real estate with extensive expertise and proven track record in investing and managing retail and office properties. BLUE Asset Management manages a portfolio with a market value of around EUR 1.4 billion for international institutional and private investors. Its main geographical focus is on Germany, Switzerland and Austria.
Source : Joint Press Release