Principal Global Investors has completed the acquisition of INTERNOS Global Investors, the U.K.-headquartered pan-European real estate investment manager.
The acquisition of INTERNOS adds significant European real estate investment capability to PGI, bringing with it a platform of more than 100 employees based in eight European offices with €2.68 billion ($3.31 billion) in assets under management as of Dec. 31, 2017. INTERNOS has regulatory approvals allowing it to offer investment solutions to its clients and investors across key European jurisdictions.
As part of PGI’s multi-boutique operating model, INTERNOS will be renamed Principal Real Estate Europe, retaining its investment independence and its management team while gaining access to the resources and scale of a major financial institution. Principal Real Estate Europe will be part of Principal Real Estate Investors, which manages or sub-advises $79.2 billion in real estate assets globally as of Dec. 31, 2017.
