Goldman Sachs and BVK, Germany’s largest pension fund, have launched a partnership focused on real estate secondary market transactions.
The partners will create a €300 million ($315 million) dedicated investment fund for real estate secondary market transactions, according to various news reports. The vintage fund will invest globally in both traditional real estate limited partnerships and more complex, structured and nontraditional secondary market transactions to provide liquidity to fund initiators as well as investors, reports a German news outlet.
“Investments in secondary real estate are quickly establishing themselves as an integral part of large institutional real estate portfolios,” said Manuel Wormer, head of global real estate investment management at BVK. “The diversification that this strategy offers across different property types and age groups represents an enrichment for our real estate portfolio. In addition, the structurally strong market
