Deutsche Pfandbriefbank AG (pbb), a European specialist bank for commercial real estate finance, has acquired a majority stake in Deutsche Investment Group, a real estate investment manager.
With this acquisition in the investment management sector, the bank aims to strengthen its “pbb invest” division and diversify its revenue streams.
This is part of a key objective of the Bank’s Strategy 2027: expanding investment management. In total, pbb aims to build assets under management of between €4 billion ($5 billion) and €6 billion ($7 billion) by 2027. The transaction will result in the acquisition of assets under management totaling around €3 billion ($3.5 billion).
