The asset management arm of German insurer Gothaer committed €500m to Syntrus Achmea Real Estate & Finance’s Dutch residential mortgage fund.
Syntrus – which opened up its healthcare real estate fund and its residential mortgage fund to foreign investors last year – said the €8.6bn residential fund has now also received Gothaer Asset Management as its first foreign client.
With more than 60 institutional investors, the residential mortgage fund is expected to grow to more than €10bn this year, the manager said.
Arthur van der Wal, CEO of Syntrus Achmea, said opening up the two funds to foreign investors broadens the foundations of both funds, and “that’s good news for all the participants”.
“Dutch mortgages give a further boost to the risk/return profile of our portfolio.”
Christof Kessler, Gothaer Asset Management CEO, said: “Thanks to its extensive knowledge and experience of mortgage investments and its excellent results, Syntrus Achmea is the ideal partner for us.”