Asian insurers award €145m mandate to CBREGI

A consortium of large Asian insurers has awarded a $200 mln (€145 mln) mandate to CBRE Global Investors’ separate accounts group to build a core/core+ real estate portfolio in the US and Europe.

The mandate, which is expected to grow over time, will target both debt and equity investments across property sectors in the Top 25 markets in the US and large urban zones in the UK, France and Germany.

CBRE Global Investors has seen significant growth in its separate accounts platform. In 2013, the firm raised $3.3 bn of capital for separate accounts, including $1.2 bn to be invested cross-border. Asian investors have been particularly active, deploying capital via separate accounts in Europe and the US.

'Investors are increasingly diversifying their real estate portfolios by looking abroad,' said Matt Khourie, global CEO of CBRE Global Investors. 'Due to our broad geographic scale and consistent regional competencies, we are a global leader in separate accounts and have a unique advantage to migrate capital across borders efficiently and effectively.'

Other key European team members involved in this mandate include James Clifton-Brown, EMEA head of separate accounts; Jeff Torto, who serves as the overall portfolio manager; and Andy Glanzman, who spearheaded the debt element of this mandate.