UBS Asset Management’s (UBS AM) Real Estate & Private Markets (REPM) business has announced that its Multi-Managers Real Estate (MM-RE) business area has been awarded a €225m mandate by a major German institutional client to invest in unlisted property funds in developed real estate markets worldwide.
This latest mandate win increases total assets under management, including commitments, by the MM-RE team to more than $17bn.
MM-RE has provided its new client with a tailor-made investment solution designed to meet the institutional pension plan’s return targets, whilst abiding by specific regulatory requirements.
The mandate will invest internationally in primarily core strategies selected from a broad universe of real estate fund managers with which the MM-RE team has longstanding relationships.
The MM-RE business forms an integral part of the REPM platform. MM-RE was established in 2007 to offer discerning investors access to a global portfolio of actively managed funds and other types of indirect investments across the risk spectrum, providing multiple layers of diversification.
The identity of the investor was not disclosed.
Crédit Mutuel launches specialised asset management hub
French banking group Crédit Mutuel Alliance Fédérale has set up an asset management hub – Crédit Mutuel Investment Managers – for institutional, corporate and individual investors in France and rest of Europe as part of its 2019-2023 strategic plan.
The specialised hub includes Crédit Mutuel Asset Management, Banque de Luxembourg Investments (BLI), CIC for structured product issues conducted by CIC Market Solutions, Cigogne Management, CIC Private Debt, and Dubly Transatlantique Gestion.
The banking group has decided to combine the sales and marketing support teams within Crédit Mutuel Investment Managers, which reflects Crédit Mutuel Alliance Fédérale’s overall strategy to promote the investment solutions of its management entities through a ‘multi-boutique’ model.
This structure gives investors access to a wide variety of asset classes managed by professionals that have recognised skills and expertise, it said.
Philippe Vidal, chair of the board of directors of Crédit Mutuel Investment Managers and deputy CEO of CIC, said: “With a strong international vocation, Crédit Mutuel Investment Managers has teams in six European countries and over 30 sales staff who can offer the partner entities’ products in more than 10 countries.”
Columbia Threadneedle backs Black Men campaign
Columbia Threadneedle has signed up to a programme aiming to open up pathways into employment for young black men and to influence internal culture for their benefit.
The programme was launched by Cephas Williams, a photographer who is behind an initiative – 56 Black Men – that has showcased a series of portrait images to challenge negative stereotypes of black men.
Nick Ring, EMEA CEO officer at Columbia Threadneedle Investments, said: “We are proud to be the first city firm to commit to this programme and hope to see many others come on board.
“To improve diversity and inclusion in our organisations, we need to address equality of access and opportunity”
Nick Ring, EMEA CEO officer at Columbia Threadneedle Investments
“To improve diversity and inclusion in our organisations, we need to address equality of access and opportunity. The under-representation of certain groups in the city, such as black men, is unacceptable and we need programmes like this to begin to change our landscape for the benefit of all of us.”
Columbia Threadneedle first collaborated with Williams to mark Black History Month in October 2019, hosting an exhibition of images from the 56 Black Men campaign in the company’s head office in London and culminating in a lunchtime presentation and discussion with employees.
The event was hosted by Columbia Threadneedle’s Black Employee Network (BEN), a community of Black professionals offering its members resources and strategies to enhance and promote personal and professional growth whilst contributing to the success of the company.
BEN has four pillars of focus with initiatives and events designed to deliver employee engagement and professional development, business support, community involvement and cultural awareness.
Nicolas Janvier, fund manager and a member of BEN, said: “We know that talent is equally distributed but selectively developed and we want to change that dynamic. … It’s the right thing to do and it’s a business imperative,” he said.