Aberdeen Asset Management has launched the Aberdeen German Urbanisation Property Fund, which will invest in both residential projects and mixed-use developments. Aberdeen has already secured €150m of commitments from pension funds, insurance and other institutional clients, with the aim to grow the Fund to €1.5bn.
”The successful launch of the Aberdeen German Urbanisation Property Fund reflects the appeal of long-term, stable income streams to local institutional investors. Low construction activity relative to population growth means there is a demand-supply imbalance, particularly in metropolitan areas across Germany,“ said Fabian Klingler, Head of Direct Property at Aberdeen Asset Management. Aberdeen is the second largest residential property fund manager in Europe, managing nearly €5bn of assets, of which over €3bn is located in Germany.
