The former management team of Bouwfonds Investment Management and family-office investor CommonWealth Investments have confirmed the creation of a new investment company, Primevest Capital Partners.
The new “investment boutique” will take over a number of funds and mandates previously managed under the Bouwfonds IM name. They include investments in car parking, German communication infrastructure and residential property.
On Monday, Bouwfonds IM confirmed it had entered a management buyout and sold more than €4bn of real assets as its parent Rabobank phases out fund management activities. It was also reported in January that a new company called Primevest would be created to take over the management of assets.
“With the establishment of Primevest Capital Partners we are able to continue our high quality investment management services with our dedicated specialised teams that our clients are accustomed to,” said Bart Pierik, former managing director at Bouwfonds IM and now managing partner at Primevest.
“In recent years we have strengthened our leading position as car park investment manager, expanded our residential activities for key clients and launched a new fund in communication infrastructure, being the first investment manager to offer German institutional investors the opportunity to invest long-term in passive communication infrastructure assets.
“We see a growing interest from institutional clients for our innovative real asset investment strategies to further grow our assets under management.”
Pierik will lead 30 professionals from offices in Utrecht and Berlin. Ruud Roosen is in charge of parking, Hans-Peter Renk is overseeing residential, and Bas van Dongen is managing communication infrastructure, while former Foruminvest CFO Walter Kuppens will look after finance and risk.
CommonWealth Investments, a Dutch family office, is the financial sponsor of Primevest Capital Partners.
Leo Derksen, co-founder of CommonWealth Investments, said: “We believe that there is demand in the market for specialised investment managers with a focus on innovative distinctive investment strategies.
“The activities of Primevest Capital Partners match this demand and we have confidence that the management can successfully grow the existing activities of Primevest Capital Partners in the coming years.”