EUROPE - Schemes have invested £648m in a global real estate fund run by Deutsche Asset Management's property arm, DB Real Estate.
The DB Global Real Estate Opportunities Fund – which comprises primarily institutional investors and high net worth individuals – purchased the real estate private equity from its parent company Deutsche Bank.
Global head of asset management Tom Hughes said the closure of the fund on December 31 demonstrated DeAM’s “leadership position in real estate”.
He said: “It also shows the strength of our relationships with institutional investors and high net worth individuals. The product aims to satisfy the investment needs of these investors and will be managed by a leading team of investment professionals.”
The portfolio is diversified by location, property type and investment strategy, and consists of seasoned assets managed by DB’s real estate opportunities group.
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TPT Retirement Solutions has launched a pension scheme for the education sector which offers schools both defined contribution (DC) and defined benefit (DB) pension provision.
The People's Pension has revealed plans to overhaul its charging structure, cutting fees and returning profits to members with an aim to help people save more money for retirement.
Data consultancy ITM has appointed Akash Rooprai as head of client management to lead its de-risking business.