French fund goes with AEW Europe SGP for realty investment
By Thao Hua | March 5, 2013 12:47 pm
Etablissement de Retraite Additionnelle de la Fonction Publique, Paris, appointed AEW Europe SGP to manage a direct real estate portfolio valued around €310 million ($403 million), according to ERAFP spokeswoman Alice Blais.
Funding came from new cash inflows.
Amundi Immobilier and La Franšaise Real Estate Managers were named to a preapproved list of standby managers for the allocation.
The strategy, which will integrate the €15 billion fund's socially responsible investing guidelines, primarily targets offices and retail properties but also includes housing and student accommodation. In the future, other direct real estate assets might be added.