Henderson Global Investors’ move into the German fund management market has been boosted with the launch of a new €300-million ($380-million) property fund on behalf of Nordrheinische Ärzteversorgung, the pension fund of the North Rhine medical association. The fund is investing €150 million ($190 million) which will then be subject to 100% gearing.
Henderson will manage the fund through Warburg - Henderson Kapitalanlagegesellschaft für Immobilien, its joint venture with Hamburg-based MM Warburg. The investment strategy of the fund is to focus on office, retail and logistic properties in the key pan-European property markets outside of Germany, with France, Italy and the UK the main targets.
Hermann Aukamp, director of property at Nordrheinische Ärzteversorgung, says: “We have selected Warburg-Henderson based on their rigorous professional investment process, leading edge property market research and their local presence in the most important European property markets.”
Warburg-Henderson has launched four such property Spezialfonds with German and international institutional investors over the past 12 months, raising in excess of €500 million ($625 million).