Dutch real estate investment manager Bouwinvest REIM has committed €100 mln to the Hines Pan-European Core Fund, extending its allocation to core European retail and office markets.
The decision reflects its strategy to lift international investments outside the Netherlands to 40% of the portfolio from 35%.
'Bouwinvest is increasing its allocation to international real estate markets to achieve greater risk diversification across geographies and cycles, while achieving optimal returns,' commented Stephen Tross (pictured), managing director international investments at Bouwinvest.
Bouwinvest said it had secured a seat on the advisory board of the fund, allowing it to represent the interests of its parent investor bpfBOUW, the Dutch Construction Workers Pension Fund, in the evolution of the investment strategy.
'The investment with Hines reflects our confidence that their investment philosophy is closely aligned with Bouwinvest’s values and that they can achieve our core-style return targets,' concluded Tross.
The Hines Pan-European Core Fund has around €860 mln of assets under management, invested in core real estate markets in Europe.
The open-ended fund focuses on prime office and high street retail assets, in cities that include Berlin, Frankfurt, Düsseldorf, Hamburg, Stuttgart, Paris, Dublin, London, Edinburgh, Barcelona, Madrid, Florence, Milan and Copenhagen.
