RAG Foundation has acquired Morgan Stanley’s share block in DIC Asset AG for an undisclosed price and now holds 4.8% of the Frankfurt-based real estate company. The two parties involved agreed not to disclose the purchase price. RAG Foundation was effected via its master fund managed by Deka Investment. DIC Asset’s investment focus is on commercial real estate in Germany, where it pursues a return-oriented policy. The company has a total of around 250 real property assets worth approximately €3.4bn under management.
