Swiss Life KVG, the German investment management arm established recently by Swiss Life Asset Management, is gearing up to launch a private 'evergreen' European residential fund later this month, PropertyEU has learned.
'The evergreen fund will focus on residential and commercial property, including senior living facilities. It is set to invest in Germany and elsewhere in Europe in both major cities and in urban peripheral regions on the rise,' Swiss Life KVG’s CEO, Ingo Hartlief, has told PropertyEU.
While Swiss Life KVG has not disclosed further details regarding the soon-to-be-launched fund, Hartlief added that several new investment vehicles are on the cards for 2017.
'We would like to expand our activities in the German market for real estate funds through Swiss Life KVG and to exploit market opportunities by offering products that address the current and upcoming demands of institutional and private investors,' Hartlief said. 'For 2017, several new funds are planned via our Swiss Life KVG. The investment products will pick up on social trends, such as our aging society, urbanisation in regional centres and social challenges in the social and health sector.'
According to Hartlief, Swiss Life KVG's focus in Germany will be on A and B cities as well as on metropolitan regions. 'In Europe, preference will be given to A cities in economically strong euro and non-euro countries.’
Both open and closed-end funds are being considered, Hartlief said, noting that Swiss Life KVG is targeting institutional investors as well as private investors. Further details concerning target fund sizes and their investment remits have yet to be disclosed.
The German financial supervisory authority BaFin granted Swiss Life a business licence for its German KVG in November. Swiss Life will be supported by its German subsidiary, Corpus Sireo, which Swiss Life acquired in August 2014 for €210 mln. Corpus Sireo currently manages funds with combined AUM of €1.7 bn, including assets in the healthcare sector.
