Investors - MAY 16, 2018

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Dutch PMT commits an additional €100m to Barings core fund

by Andrea Zander

Following the recommendation of their fiduciary manager MN, Pensioenfonds voor Metaal en Techniek (PMT) will commit an additional €100 million ($118 million) to the open-end Barings European Core Property Fund (BECPF) as part of its European core real estate allocation, targeting a second quarter close.

In 2017, PMT made a €150 million ($177 million) commitment. Over the course of 2017, the fund attracted high volumes of capital from various institutional investors, with gross asset value now close to €1 billion ($1.2 billion).

The fund owns various assets across the retail, logistics and office sectors in locations including Amsterdam, Berlin, Hamburg, Lille, London, Milan, Malmo and Madrid. Looking forward, the manager has expressed an intention to increase exposure to residential, especially in high-growth cities. Barings has also made an ambitious commitment to improve the fund’s sustainability and associated GRESB ranking.

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