TORONTO, May 7, 2019 /CNW/ – Timbercreek Investment Management Inc. (Timbercreek), a global real estate asset firm, has been given a mandate by Bayerische Versorgungskammer (BVK) to manage a portfolio of European-listed Real Estate Investment Trusts (REITs). The portfolio was created by the Luxembourg-based investment management company, Universal-Investment, who will co-manage the fund with Timbercreek.
“Our mandate with BVK will leverage our team’s deep experience and long-term track record in REIT investing. We are delighted to be selected by such a prestigious group,” says Corrado Russo, Senior Managing Director, Investments & Global Head of Securities, who has been with Timbercreek since 2011 and manages approximately $2 billion1 in REIT investments.
Timbercreek Investment Management Inc. (TIMI) is a wholly owned subsidiary of Timbercreek Asset Management Inc. (TAMI), a global alternative investment manager with headquarters in Toronto with approximately $9.8 billion2 in assets under management. Founded in 1999, Timbercreek employs a value-oriented investment philosophy and specializes in providing conservatively managed, risk-averse alternative asset classes with a focus on real estate. TIMI has a global institutional investment management team with experienced analysts and portfolio managers in key markets across Canada, the U.S., Europe and Asia.
Bayerische Versorgungskammer (BVK) is Germany’s largest public-sector pension group under public law. As a public authority of the Bavarian Ministry of the Interior, it is the joint executive body of 12 liberal professions and communal pension schemes. BVK covers about 2.2 million insured members, with contributions of €4.8 billion in 2018. BVK currently has €77 billion in assets under management.3
1- As of April 2019, including the BVK mandate
2- As of April 2019, including the BVK mandate and syndicated debt under administration
3- Source: BVK website