AEW Europe secures €200m German mandate
German pension fund manager ZVK has hired AEW Europe’s German business to handle a €200 million ($228 million) separate account mandate to invest in commercial real estate across Europe.
The award comes as AEW Europe is expanding its presence in Germany with the opening of a new office in Frankfurt, following the growth of the firm’s business and the launch of a new German fund management platform in 2014.
“This new investment mandate represents another step forward for AEW Europe as we continue to grow our business in Germany and diversify our European client base,” said Rob Wilkinson, CEO of AEW Europe, in a statement. “We have seen a significant uplift in our German business activity over the last 12 months, and we expect this to be a key growth market for us over the next three to five years. The opening of the office in Frankfurt will provide us with an extended platform to consolidate our market presence and furth