– The management company IAD Investments, správ. spol., a.s. (IAD) as the buyer and HB Reavis Group have agreed on the acquisition of the manager of the CE REIF Fund (the Fund) – HB Reavis Investment Management S.à r.l.
– IAD plans to further develop the Fund and to acquire new investments in the Fund with a minimum value of EUR 25-30 million.
– The closing of the transaction and the takeover of the Fund is subject to the approval of the regulators of the local relevant authority and is scheduled for May 2024.
CE REIF Fund is a real estate fund established by HB Reavis Group in 2011 in the jurisdiction of Luxembourg. The fund’s investment strategy is to acquire and manage assets in premium locations in Europe. As of 31 December 2023, it managed assets with a total value of more than EUR 300 million. HB Reavis Investment Management S.à r.l., a Luxembourg company, is the general partner and manager of the fund, which is the subject of the transaction.
IAD manages Slovakia’s oldest real estate focused mutual fund, which has been delivering positive and stable returns to its investors for 17 years. IAD intends to use its experience to develop the Fund’s assets and manage its real estate portfolio, which will strengthen its position and once again enhance the Fund’s ability to deliver returns to investors.
IAD Investments, správ. spol., a.s. is the oldest Slovak asset management company operating on the Slovak capital market since 1991. Within its European operations, it manages assets mainly in Slovakia, the Czech Republic, Hungary and Poland with a value of more than EUR 2.1 billion. It currently manages 16 mutual funds and also offers individual asset management and savings programmes to its investors.
