Under their new agreement, Rreef Alternative and fund manager RRES will collaborate on product distribution, which will provide Deutsche Bank's institutional and high net worth investors with access to RRES's strategies.The agreement "will allow our organizations to join forces on investment expertise and deploying capital, and will give Rreef clients access to a top-performing real estate investment manager," Charles B. Leitner, Global Head of Rreef Alternative Investments, said in a prepared statement.
 Leitner |
The agreement with Rreef follows Rosen's announcement in January that GIC Real Estate, the real estate arm of the Government of Singapore Investment Corp., had committed $300 million of funds and simultaneously acquired a minority stake in Rosen Real Estate Securities. GIC RE will remain an investor and owner following Rreef's acquisition of a minority stake in RRES.
Rosen has more than 35 years of real estate research experience, with a focus on macro and regional economic and property market forecasts. He was the founder, chairman and portfolio manager of Lend Lease Rosen Real Estate Securities, a $3 billion REIT investment management firm that was sold in June 2003.
Rosen is also professor emeritus of the Haas School of Business and chairman of the Fisher Center for Real Estate and Urban Economics at the University of California at Berkeley. Closing of the transaction between Rreef and Rosen's firm is subject to customary conditions and is expected to be completed in the fourth quarter of this year. Terms of the transaction were not disclosed.
© Arc, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to TMSalesOperations@arc-network.com. For more information visit Asset & Logo Licensing.