Published in November 2007 by PEI Media Ltd Second Floor ...
Published in November 2007 by PEI Media Ltd Second Floor ...
Published in November 2007 by PEI Media Ltd Second Floor ...
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Pension Fund.<br />
NORDRHEINISCHE ARZTEVERSORGUNG<br />
HEAD OFFICE<br />
Tersteegenstr. 9<br />
Düsseldorf<br />
D-40474<br />
Germany<br />
Tel: +49 21 1430 20<br />
Fax: +49 21 1430 1348<br />
www.naev.de<br />
ASSETS / FUNDS UNDER MANAGEMENT<br />
EUR 8 billion (as of 31 March <strong>2007</strong>)<br />
ALLOCATION TO ALTERNATIVES<br />
3%<br />
ALLOCATION TO REAL ESTATE<br />
15%<br />
AMOUNT ALLOCATED TO REAL ESTATE<br />
EUR 1.2 billion<br />
ALLOCATION TO PRIVATE REAL ESTATE<br />
(As a percentage of real estate)<br />
31%<br />
YEAR FIRST INVESTED IN PRIVATE REAL ESTATE<br />
1999<br />
ADVISORS<br />
CONTACTS<br />
Mr. Hermann Aukamp<br />
Director of Real Estate<br />
Tel: +49 21 1430 21247<br />
aukamp@naev.de<br />
Düsseldorf, Germany<br />
Mr. H Mengi<br />
Controller<br />
Tel: +49 211 4302 1282<br />
Mengi@naev.de<br />
Düsseldorf, Germany<br />
BACKGROUND<br />
Nordrhe<strong>in</strong>ische Arzteversorgung is the occupational pension fund of the North Rh<strong>in</strong>e medical association, which was established more than 40 years<br />
ago. The company is known to have <strong>in</strong>vested <strong>in</strong> real estate <strong>in</strong>directly through private and public property funds, <strong>in</strong>clud<strong>in</strong>g German spezialfonds. The<br />
pension fund has <strong>in</strong>vested <strong>in</strong> funds managed <strong>by</strong> <strong>in</strong>vestment managers such as Warburg P<strong>in</strong>cus, Henderson Global Investors and MEAG Real Estate<br />
Management. The fund announced <strong>in</strong> December 2006 that <strong>by</strong> 2010 it would cut direct hold<strong>in</strong>gs to 3% of total assets from 8%. It said that its<br />
<strong>in</strong>vestments <strong>in</strong> real estate shares would rise to up to 8% from 3%<br />
REAL ESTATE ALLOCATION BREAKDOWN<br />
Provides a breakdown of the <strong>in</strong>stitution's allocation to real estate, <strong>in</strong> terms of direct, public and private real estate <strong>in</strong>vestments.<br />
Invests? %<br />
Direct Real Estate • 50%<br />
Public Real Estate • 19%<br />
Private Real Estate Funds • 31%<br />
PRIVATE REAL ESTATE INVESTMENT ALLOCATION BREAKDOWN<br />
Provides a breakdown of the <strong>in</strong>stitution's allocation to private real estate, <strong>in</strong> terms of fund type, sectors, geography and <strong>in</strong>vestment opportunities.<br />
Bite Size<br />
Current Number of GPs Invested with<br />
Approx. Capital Committed to Date<br />
EUR 700 million<br />
Approx. Number of Funds Committed to 7<br />
FUND TYPE<br />
Core<br />
Core Plus<br />
Value Added<br />
Opportunity<br />
Mezzan<strong>in</strong>e / Debt<br />
Turnaround / Distressed<br />
Infrastructure<br />
Fund of Funds<br />
<strong>Second</strong>ary Fund Interests<br />
Other<br />
GEOGRAPHY<br />
Global Funds<br />
Regional Funds<br />
North America<br />
Western Europe<br />
Central & Eastern Europe<br />
Middle East / Africa<br />
Asia Pacific<br />
Lat<strong>in</strong> America<br />
Country-Specific Funds<br />
Germany<br />
Invests? %<br />
•<br />
•<br />
•<br />
•<br />
•<br />
•<br />
<br />
<br />
<br />
<br />
•<br />
SECTORS<br />
Leisure<br />
Retail<br />
Industrial<br />
Office<br />
Residential<br />
Hotels<br />
Warehouse/Logistics<br />
Diversified or no Sector Preference<br />
Other<br />
INVESTMENT OPPORTUNITIES<br />
<strong>Second</strong>ary Directs<br />
Debut / First Time Funds<br />
Co-<strong>in</strong>vestments<br />
The Global Directory of Investors <strong>in</strong> Private Real Estate Funds – <strong>Second</strong> Edition<br />
1112<br />
© <strong>2007</strong> <strong>PEI</strong> <strong>Media</strong> <strong>Ltd</strong>.
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