DeAWM, the asset management arm of Deutsche Bank, is launching a new open-ended real estate fund that will seek to carry out €700 mln of investments in Germany.
DeAWM, the asset management arm of Deutsche Bank, is launching a new open-ended real estate fund that will seek to carry out €700 mln of investments in Germany.
The Grundbesitz Fokus Deutschland fund will invest across all sectors and be focussed on medium to large cities in German growth regions. It will target long-term, private investors and launch on 1 October.
Commenting on the launch, Ulrich Steinmetz, head of DeAWM's open-ended fund division, said: 'This is the right time to invest in fixed assets and to launch a new open-ended real estate fund.'
The fund is DeAWM's first since Germany’s Capital Investment Act came into force last summer. The act is Germany's answer to the EU's Alternative Investment Fund Managers Directive (AIFMD) and part of the new legislation requires a minimum investment period of 24 months.
