A German insurer has turned to IPE Quest in the search for an Asia Pacific real estate strategy for a mandate of at least €30m.
According to search QN-2665, the insurance company is looking for vehicles based in Germany or Luxembourg that allow it to keep a certain amount of assets as insolvency-protected, in line with a regulatory requirement for German insurance companies.
The investor has specified is looking for unlisted core/core-plus/value-added investments. For core investments, it would expect open-ended funds and for value-added investments closed-ended vehicles, although it has this was not limited.
The tender is aimed at finding a direct fund, but the insurance company has indicated it could be open to other options. Managers should have a track record of at least five years, but 10 years are preferred.
Interested parties should apply by 5 March 2021 at 5pm UK time, stating performance to 31 December 2020 net of fees.
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