IVG's Steffen Ricken joins Corestate

Steffen Ricken, former managing director of IVG Institutional Funds, has joined Swiss-based investor Corestate.

Ricken has been named managing director, head of global capital raising and has joined Corestate's senior management board and investment committee.

Ricken assumes responsibility for Corestate's global investor relations and capital raising activities, expanding the joint venture/club deal business as well as the development of institutional products.

Previously, he was managing director at IVG Institutional Funds, responsible for the strategic development of the platform, product development and investor relations. In this role, Ricken raised €1.3 bn of private equity from German and international institutional investors and placed funds with an investment volume of €2.2 bn. Furthermore, Ricken developed and executed the expansion of IVG's international investor base to Central- and Eastern Europe, Italy and Korea.

Prior to this, he worked in the real estate investment banking division of Sal. Oppenheim.

Corestate Capital is a specialist real estate investor based in Zug, Switzerland, with partner offices in Frankfurt, Essen, London, Singapore and Luxembourg. The business has invested more than €2 bn in the real estate market both through direct and indirect transactions.