Henderson Global Investors’ joint venture partnership in Germany - Warburg-Henderson - has won the mandate of four local pension funds for a pan-European special fund - KOOP Fund. Two of the investors are new clients for the fund manager, while the other two are existing investors.
Henderson Global Investors’ joint venture partnership in Germany - Warburg-Henderson - has won the mandate of four local pension funds for a pan-European special fund - KOOP Fund. Two of the investors are new clients for the fund manager, while the other two are existing investors.
The total sum of equity raised is EUR 200 mln, which gives the fund firepower of over EUR 300 mln for acquisitions. The fund will target both office and retail assets, which are considered 'low risk' in Western Europe. The target rate of return is 6.5% (IRR).
Henderson Global Investors will be responsible for the asset management across Europe, with the exception of Germany, where HIH will assume responsibility. The extensive network offered from each of these partners will guarantee excellent access to the European real estate market.
Eitel Coridaß, Managing Director and responsible for all portfolio management activities at Warburg-Henderson said: 'We are witnessing an increasing trend in institutional investors, who are looking for more bespoke fund solutions, coming together in club deals such as these, which allow investors with similar investment and distribution strategies to group their equity together, while still receiving individual care and expertise from the manager.'
