Global fixed-income manager Rogge Global Partners and global real estate manager Heitman launched two short-duration real estate bond funds, one for Europe and one for U.S. investors, confirmed Meglena Petkova, a Rogge spokeswoman.
The firms are both affiliates of Old Mutual Asset Management.
The global liquid real estate debt funds have raised a combined $90 million. The fund will invest in real estate investment-grade instruments, including commercial mortgage-backed securities, real estate investment trusts, residential mortgage-backed securities, homebuilders and other asset-backed securities.
Rogge executives will analyze the securities and shape portfolio strategy, while Heitman executives will review global real estate fundamentals and valuations.
This is the first time OMAM affiliates have partnered to run a single fund.