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Real estate

Achieving specific profitability and average annual distributions through investments in European commercial real estate, balanced in terms of profitability as well as risk ratio.

Overview

Launched in 2018, the fund has an estimated IRR of 13.6% as of Q2 2021 and targets core and value add properties within residential, office and hospitality segments and other market segments opportunistically up to a total of 30% of net assets within European gateway cities of Berlin, Munich, Hamburg, London, Vienna, Brussels, Amsterdam, Luxembourg, Lisbon and Milan. Individual equity investments range from €8-€40 million. The fund seeks diversification through geography, by targeting specific urban areas rather than countries, by market segment, investment instruments and methods. Additionally, the fund selects markets in view of their investment potential, transaction volume, stability, liquidity and the availability of both open market statistics and real investment opportunities. It selects investment objects by considering the quality of buildings, their location, reliability of cash flow, the ability to organize management and achieve maximum profitability while maintaining the value-add risk profile of the fund. The fund is led by a seasoned team of real estate investors with several decades of aggregate real estate investment experience.

Insights

Market and portfolio insights, webinars and podcasts from across our Absolute Returns Fund to provide our investors with the guidance they demand to navigate the changing world we are living in.

Group Overview - 2023

Discipline. Focus. Clarity. These are what set us apart. Rather than chase every fad, we hone in on...

Documents

Market and portfolio insights, webinars and podcasts from across our investment teams.

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Meet the team

Thierry Vanden Hende
Thierry Vanden Hende Head of Real Estate

After obtaining a Master’s degree in Commercial Engineering and Applied Economics at the KU Leuven in 1998, Thierry Vanden Hende studied at Cornell University’s Johnson School of Management, where he earned an MBA. He was subsequently recruited as an analyst by Morgan Stanley. He joined their real estate private equity fund in 2005 and became a Managing Director in 2013. In 2017, he left Morgan Stanley and joined MallTech, a company in which Goldman Sachs Special Situations Group held a majority stake and where he held the position of CIO.