DIC Asset AG launches open-ended institutional fund with a volume of €350m

DIC Asset AG, a German firm specializing in office and logistics real estate, has launched the first institutional fund of its subsidiary, VIB Vermögen AG.

The open-ended institutional property fund, VIB Retail Balance I, has a fund volume of €350 million ($372 million). Its investment strategy focuses on food retail properties and retail parks.

VIB will initially provide 49 percent of the fund’s equity. The administration of the separate asset pool will be handled by a third-party AIFM, IntReal Real Estate KVG mbH. The portfolio consists primarily of neighborhood retail centers, supermarkets and retail warehouses in nine different German states.

The fund’s entire equity capital of €202 million ($214 million) has already been subscribed.

“Coming close to the end of a year that has been rather volatile for the industry, this fund sends a strong signal, showing that we keep expanding our unique and prospering business model consistently and with