KINGSTONE Investment Management and Universal- Investment launch special property fund for institutional investors
- Planned fund volume of around EUR 300 million
- Minimum investment of EUR 3 million
- Intended distribution yield of >4% a.
Munich / Frankfurt/Main, 6th of June 2019 – KINGSTONE Investment Management (KINGSTONE IM), Munich, and Universal-Investment, Frankfurt/Main, have launched their first joint special property fund. The “KINGSTONE Wachstumsregionen Süddeutschland” fund is intended to invest primarily in core office properties in selected growth regions in southern and western Germany. It has a target volume of around EUR 300 million with a debt ratio of no more than 50%.
The “KINGSTONE Wachstumsregionen Süddeutschland” fund is targeted at German institutional investors. The minimum investment tranche is EUR 3 million. KINGSTONE IM already received capital commitments of more than EUR 60 million from savings and cooperative banks. The target volume of the individual properties ranges between EUR 10 million and EUR 50 million. The fund pursues a long-term holding strategy and is aiming for a distribution yield of more than 4% per year.
The vehicle is KINGSTONE IM’s first special AIF for German investors. The company was founded at the end of 2018 by the Schomberg family together with Pegasus Capital Partners. The fund was created using the Universal-Investment platform. As a master AIFM, Universal- Investment has now launched more than 30 property funds under German and Luxembourg law with a gross fund volume of EUR 19.3 billion on behalf of institutional investors and asset managers.
Dr Tim Schomberg, Managing Partner at KINGSTONE IM, explained: “The connection between KINGSTONE and Pegasus – with its proven expertise in mezzanine finance and development– grants us excellent access to off-market investment opportunities and the ability to carry out transactions quickly. We see ourselves as a speedboat in the sector and were able to immediately gain traction with our business model. We are already in advanced negotiations on three properties for the fund portfolio.” Regarding the service AIFM, Dr Tim Schomberg added: “We very deliberately chose Universal-Investment as our strategic partner as it is one of the market leaders in the fields of master AIFMs and private label funds.”
“We are delighted to have gained another highly professional partner for our platform in KINGSTONE IM. This shows that specialisation in asset management or administration is increasingly gaining a foothold in the property sector as well,” said Katja Müller, Chief Customer Officer at Universal-Investment.
About KINGSTONE Investment Management
KINGSTONE Investment Management (KINGSTONE IM), founded by the Schomberg family, is an owner-managed real estate investment management boutique offering a broad range of investment products and a holistic investment approach for institutional German and international capital.
KINGSTONE IM unites a first-class real estate pipeline with the exceptional national and international capital and partner network of our senior management. We link the proven track record of our strategic co-shareholder PEGASUS Capital Partners as project developer and mezzanine specialist to multiple decades of experience in the international, institutional fund business of the Schomberg family and deliver this combination as a service to our clients.
The services of KINGSTONE IM span the entire value chain of investment management and include Portfolio, Transaction as well as Asset Management. For our clients, we invest in single assets, portfolios and project developments. In addition to our inhouse real estate and fund expertise, we draw on the expertise of specialised local operating partners, which are selected according to a best-in-class approach.
The result is a holistic investment management platform which offers our investors a one-stop-shop solution for their real estate investments in the German market.
More information available at: www.kingstone-im.com
With fund assets of around EUR 446 billion under administration, thereof EUR 368 billion in own vehicles and around EUR 78 billion in, inter alia, insourcing, well over 1,300 mutual and special investment mandates and a workforce of around 700, Universal-Investment is the largest independent investment company in the German-speaking region. The investment company is the central platform for independent asset management and unifies the investment know-how of portfolio managers, private banks, asset managers and investment boutiques. With the acquisition of the industry-leading IT data specialist UI labs at the beginning of 2019, Universal-Investment is also adding front office and data solutions to its service portfolio. Founded in 1968, the Universal-Investment group is headquartered in Frankfurt/Main and has subsidiaries and holdings in Luxemburg and Austria. It is one of the pioneers of the investment industry and has meanwhile become the market leader in the areas of master-KVG and private label funds. According to the 2019 PwC ManCo Survey, Universal-Investment is again the largest AIFM ManCo in Luxembourg; among the Third-Party-ManCos, Universal-Investment also ranks in first place (as per 30 April 2019).
More information available at: www.universal-investment.com
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