A German doctors’ pension fund has awarded a €1 billion property investment portfolio to Deutsche Asset Management (Deutsche AM).
The asset manager said the the Bayerische Ärzteversorgung (BAV) portfolio had been transferred to the firm’s property specialist arm, which had €48.8 billion in assets under management, as of September 30, 2017.
The portfolio consists of 16 properties in ten countries across Europe, including England, Scotland, France, Italy, the Netherlands, Sweden and Finland, as well as the United States.
Deutsche AM will provide investment management and transaction services on the portfolio.
BAV is the pension fund for doctors in Bavaria and one of the largest institutions that make up Bayerische Versorgungskammer, the Bavarian umbrella pension scheme for self-employed professionals. It is a long-standing client of Deutsche AM.
Clemens Schaefer, head of portfolio management, real estate, Europe at Deutsche AM said: “We look forward to working together with BVK to manage and extend the existing portfolio focused on core locations in developed countries.”
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