Searches and Hires

Germany’s BVK picks Cohen & Steers to run REIT mandates

Bayerische Versorgungskammer, Munich, selected Cohen & Steers to manage U.S. and European real estate securities via two real estate investment trust mandates, a spokeswoman said Wednesday.

The portfolios will be launched and administered in Luxembourg by alternative investment manager Universal-Investment as specialized investment funds. This is the first time the €70 billion pension fund has selected Cohen & Steers.

A BVK spokeswoman did not disclose the size of the allocation.

BVK's overall allocation to REITs was €1.3 billion as of Dec.31.