In effort to take advantage of near parity between the Swiss franc and the euro, the Swiss insurer Life Asset Managers has launched its first real estate fund in Germany. The fund will have an initial capacity of up to €400m and hopes to reach €1bn in the medium term. The fund will be open to Swiss institutional investors on Dec. 1.
Initial investors in the fund will be Swiss Life Group companies. The portfolio will be built and managed by the Cologne-based Corpus Sireo, which was bought by Swiss Life Asset Managers in August 2014.
The fund will target acquisitions in Hamburg, Berlin, Dusseldorf, Cologne, Frankfurt, Stuttgart and Munich that have long-term earning potential.
