Swiss Life Asset Managers and its wholly-owned subsidiary, Corpus Sireo, are launching their first real estate fund. Set up under Luxembourg law, it will hold German residential, office and retail properties.
The fund will have an initial capacity of up to about €400m ($440m) and is aiming at a target of around €1bn ($1.1bn) in the medium term. The fund will be open to Swiss institutional investors on 1 December 2015.
Initial investors in the fund are companies of the Swiss Life Group and the portfolio will be built and managed by Corpus Sireo, headquartered in Cologne and bought by Swiss Life Asset Managers in August last year.
Acquisitions will focus on Hamburg, Berlin, Duesseldorf, Cologne, Frankfurt, Stuttgart and Munich with the focus on individual properties in prime locations with long-term earnings potential.
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