CBRE Global Investors’ direct business platform has secured its first global separate account with a €500 mln mandate from Bavarian pension fund giant BVK.
CBRE Global Investors’ direct business platform has secured its first global separate account with a €500 mln mandate from Bavarian pension fund giant BVK.
Munich-based BVK (Bayerische Versorgungskammer) has more than €60 bn of assets under management and is Germany’s largest public pension fund manager.
It has awarded CBRE Global Investors the mandate in a bid to diversify its exposure to real estate and is targeting all property types, geographies, capital structures and risk profiles.
John Ozinga, head of separate accounts, EMEA, CBRE Global Investors said: 'This win demonstrates the skills that the direct business platform can now leverage on a global scale. Pitching for this mandate was a worldwide effort with RFP and separate account teams working together to propose a global strategy. This approach proved hugely successful and can act as a blueprint for future mandates.'
