Investors - NOVEMBER 16, 2016

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BVK awards €750m real estate debt mandate to Deutsche AM

by Andrea Waitrovich

Bayerische Versorgungskammer has awarded a €750 million ($802 million) mandate to Deutsche Asset Management for a new vehicle targeting European and U.S. real estate debt. 

The fund will focus on stretched senior loans and subordinated loans with blended target returns in excess of 4 percent, secured against income-producing, institutional-quality assets, with a portion of the fund allocated to development funding. Targeting mainly transactions in Europe and the United States, investments are expected in the region of €50 million to €250 million ($54 million and $268 million) per loan.

“This new mandate, alongside our €750 million [$802 million] European Senior loan fund, allows us to provide junior and stretched senior capital on large European and U.S. transactions,” says Andrea Vanni, head of European debt investments at Deutsche Asset Management.

“This capital raise demonstrates the growing demand for rea

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