Published in November 2007 by PEI Media Ltd Second Floor ...

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Pension Fund. NORDRHEINISCHE ARZTEVERSORGUNG HEAD OFFICE Tersteegenstr. 9 Düsseldorf D-40474 Germany Tel: +49 21 1430 20 Fax: +49 21 1430 1348 www.naev.de ASSETS / FUNDS UNDER MANAGEMENT EUR 8 billion (as of 31 March 2007) ALLOCATION TO ALTERNATIVES 3% ALLOCATION TO REAL ESTATE 15% AMOUNT ALLOCATED TO REAL ESTATE EUR 1.2 billion ALLOCATION TO PRIVATE REAL ESTATE (As a percentage of real estate) 31% YEAR FIRST INVESTED IN PRIVATE REAL ESTATE 1999 ADVISORS CONTACTS Mr. Hermann Aukamp Director of Real Estate Tel: +49 21 1430 21247 aukamp@naev.de Düsseldorf, Germany Mr. H Mengi Controller Tel: +49 211 4302 1282 Mengi@naev.de Düsseldorf, Germany BACKGROUND Nordrheinische Arzteversorgung is the occupational pension fund of the North Rhine medical association, which was established more than 40 years ago. The company is known to have invested in real estate indirectly through private and public property funds, including German spezialfonds. The pension fund has invested in funds managed by investment managers such as Warburg Pincus, Henderson Global Investors and MEAG Real Estate Management. The fund announced in December 2006 that by 2010 it would cut direct holdings to 3% of total assets from 8%. It said that its investments in real estate shares would rise to up to 8% from 3% REAL ESTATE ALLOCATION BREAKDOWN Provides a breakdown of the institution's allocation to real estate, in terms of direct, public and private real estate investments. Invests? % Direct Real Estate • 50% Public Real Estate • 19% Private Real Estate Funds • 31% PRIVATE REAL ESTATE INVESTMENT ALLOCATION BREAKDOWN Provides a breakdown of the institution's allocation to private real estate, in terms of fund type, sectors, geography and investment opportunities. Bite Size Current Number of GPs Invested with Approx. Capital Committed to Date EUR 700 million Approx. Number of Funds Committed to 7 FUND TYPE Core Core Plus Value Added Opportunity Mezzanine / Debt Turnaround / Distressed Infrastructure Fund of Funds Secondary Fund Interests Other GEOGRAPHY Global Funds Regional Funds North America Western Europe Central & Eastern Europe Middle East / Africa Asia Pacific Latin America Country-Specific Funds Germany Invests? % • • • • • • • SECTORS Leisure Retail Industrial Office Residential Hotels Warehouse/Logistics Diversified or no Sector Preference Other INVESTMENT OPPORTUNITIES Secondary Directs Debut / First Time Funds Co-investments The Global Directory of Investors in Private Real Estate Funds – Second Edition 1112 © 2007 PEI Media Ltd.
Pension Fund. Future Bite Size Future Number of GPs to Invest with
Page 1 and 2: Published in November 2007 by PEI M
Page 3 and 4: Introduction & Methodology. INTRODU
Page 5 and 6: Advisor / Fund of Funds Manager. AD
Page 7 and 8: Asset Managers. FUTURE PRIVATE REAL
Page 9 and 10: Corporates. FUTURE PRIVATE REAL EST
Page 11 and 12: Foundation / Endowment. ALFRED P. S
Page 13 and 14: Insurance Company. PRIVATE REAL EST
Page 15 and 16: Investment Firm. GEOGRAPHY Global F
Page 17: Investment Firm. FUTURE PRIVATE REA
Page 21: Pension Fund. SECTORS Leisure Retai

Published in November 2007 by PEI Media Ltd Second Floor ...

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