Fund manager Warburg-Henderson has secured a mandate from five German pension funds to invest €200 mln in properties located in northern Germany.
Fund manager Warburg-Henderson has secured a mandate from five German pension funds to invest €200 mln in properties located in northern Germany.
The five pension funds have raised an initial equity amount of €100 mln for the fund, known as Immobilien-Fonds Norddeutscher Versorgungswerke, giving it total firepower of around €200 mln.
Besides office and retail assets, the fund will focus on operator-run and special-use properties in northern Germany. It has already acquired its first asset in Hamburg, provided by one of the investors.
The latest mandate is the seventh individual fund to be launched by Warburg-Henderson on behalf of institutional investors to date.
Warburg-Henderson KAG is a joint venture of German private bank MMWarburg & Co and UK investor Henderson Global Investors. Its fund products are aimed at German and international institutional property investors.