Henderson Global Investors' 16 billion property business (Henderson Property) and Investire Immobiliare SGR, the property funds asset management company belonging to Banca Finnat Euroamerica Group, have signed a joint venture agreement for the development and distribution of property funds.
The two businesses complement each other well. Henderson Property possesses a strong international asset management platform, including a dedicated SGR platform in Italy, with significant access to the international investor market. Investire Immobiliare is a leading Italian asset manager with a strong Italian asset management base and strong contact base with Italian investors.
The partnership will focus on funds structured around two different premises:
- Italian real estate funds targeting Italian investors, predominantly investing directly or indirectly in international real estate which will be set up and managed by Investire Immobiliare with the assistance of Henderson SGR as Fund adviser for the identification of investment opportunities and management of assets directly or indirectly owned
- Real estate funds developed for international investors, predominantly investing directly or indirectly in Italian real estate, which will be set up and managed by Henderson SGR with the assistance of Investire Immobiliare as Fund adviser for the identification of investment opportunities and management of assets directly or indirectly owned.
Investire Immobiliare SGR aims to widen its product range and to consolidate its growth path by strengthening its activity across the international markets, as it benefits from Henderson Property's 30 years' global property expertise, market-leading research and worldwide network of over 200 specialized professionals.
Henderson Property, meanwhile, can boost its strategic positioning within the Italian market, which it targets through its dedicated Milan-based team, with an increased Italian product offering for its extensive network of international institutional clients.
It is hoped that the platform will launch its first Fund a Core + pan-European fund before summer 2012.
James Darkins, Managing Director, Property for Henderson Global Investors, said: '"We are excited to be teaming up with Investire Immobiliare who boast access to an extensive pipeline of investment products in Italy and are confident of a successful and lasting relationship. It is also consistent with our proven strategy of co-investing alongside and utilizing partners who can strengthen our position within a particular sector or geographical market. One example is our current joint venture in Germany Warburg Henderson, which continues to grow significantly".
"We are highly proud of this agreement." Investire Immobiliare SGR President, Arturo Nattino, said "which consolidates the strategic placement of our asset management company. Thanks to the expertise and skills of Henderson Global Investors, we will have the opportunity, not only to increase our products' offer - giving new international opportunities to our Italian investors, but also to facilitate new contacts and enlarge our clients base, given that Henderson Property will allow the access to international players that could be interested in investing in Italy".
Alberto Albertazzi, General Director of Henderson SGR, added: "The establishment of a joint venture with such a leading player reflects our commitment to strengthen our presence in Italy, a market for which we recognize considerable investment opportunities."
Source: Henderson Global Investors