The Dutch Metal Workers pension fund, PMT, has committed €250 million ($274 million) to Morgan Stanley’s Prime Europe fund.
PMT’s investment represents 50 percent of the €500 million ($549 million) commitments made to the vehicle to date in its initial fundraising round.
Besides the commitment to Morgan Stanley Prime Europe, PMT also committed another €600 million($659 million) in various, already contracted, core real estate managers. These commitments will be invested in the period 2020–2023, with a focus on logistics, residential and offices in major urban areas throughout Europe. PMT’s real estate strategy is based on gaining returns mainly from income, by aligning its capital with closely several megatrends. It is especially interested in urbanization, demographic shifts and digitalization.
PMT’s CIO, Hartwig Liersch, said that European core real estate offers a right fit for the strategic goals that PMT has for its €88 billion ($97 billio
