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 were existing clients of Warburg - Henderson but the other two are new clients for the fund manager.
The total sum of equity raised is 200 million, which gives the fund firepower of over 300 million 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."
Source: Henderson Global Investors