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BVK increases UBS commitment to €1b

by Andrea Waitrovich

Bayerische Versorgungskammer, Germany’s largest pension fund, has increased its mandate with UBS Asset Management’s Global Real Estate – Global Multi-Managers from €750 million ($838 million) to €1 billion ($1.1 billion). UBS-AM GMM will continue to invest in primarily value-added and opportunistic real estate funds globally, including niche real estate and emerging markets, on BVK’s behalf, complementing its large portfolio of predominantly core direct holdings.

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