Patrizia envisions new real estate-infrastructure asset class as it targets €100bn AUM

Patrizia is seeking to nearly double its assets under management (AUM) in five years to €100bn, in part by creating a new “Re-Infra” asset class that combines real estate and infrastructure.

The Augsberg, Germany-headquartered investment manager, which was founded in 1984 as a German housing specialist, today manages €57bn across real assets, including commercial real estate and infrastructure.

A new group executive committee (GEC) has been established to oversee the growth plan, which will focus on five main areas, including the new Re-Infra asset class and what Patrizia terms “smart city solutions”.

In March this year, at the MIPIM real estate trade fair in Cannes, head of global client solutions Konrad Finkenzeller told IPE Real Assets that he expected institutional investors’ real estate and infrastructure allocations to effectively merge over the next five years.

Finkenzeller, who will lead a new client division, is among a number of executives to join the GEC, which will replace the previous executive committee on 1 August. Martin Praum, who has been appointed chief financial officer, and James Muir, promoted to head of investment division, will also join the GEC alongside three existing executive directors, CEO Asoka Wöhrmann, CFO/COO Christoph Glaser and founder Wolfgang Egger.

Patrizia said it would establish joint ownership of the executive directors on a regional level, with Wöhrmann responsible for the DACH region, Glaser responsible for the rest of Europe, and Egger responsible for Asia-Pacific.

Egger, who was succeeded as CEO by Wöhrmann last year, has overseen the growth of Patrizia from a German residential property company to a global real assets fund manager, including a number of corporate acquisitions, such as infrastructure manager Whitehelm Capital in 2021, and real estate firms Rockspring and Triuva, and fund-of-funds manager Sparinvest in 2017.

Wöhrmann said: “Our clear ambition is to become the investment manager of choice for smart real asset solutions. We will leverage our strong position in Germany, significantly grow in Europe and attract more international investors to our attractive real estate, infrastructure and Re-Infra investment platform.

“Our new GEC will drive our investment process end-to-end across all our asset classes while continuing to enhance client-centricity, efficiency and innovation for the benefit of our clients and stakeholders.”

Uwe Reuter, chairman of the board of directors, said: “Patrizia’s strategy 2030 provides a clear growth path for the company in all asset classes across all geographies. And the future execution-focused organisational set-up under the new leadership team will enable Patrizia to win in the next cycle and provide attractive long-term value for its clients and other key stakeholders.”

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