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IPE special report May 2018

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VKG broadens property horizon in new RFP

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BELGIUM - The e500m Brussels based VKG/CPM pension fund for doctors, dentists and pharmacists is seeking a manager for an indirect international real estate mandate, as part of a strategic geographical shift in its property investment set-up.

“ It is a planned move from Belgian to international real estate; we need a manager who can run a portfolio of indirect real estate investment, throughout Europe and the US, starting from a non-existent position,” says Karel Stroobants, director of the fund.

“ We will define the details of the mandate together with the manager. It is a process we started a few years ago, going from direct real estate to office buildings, to indirect real estate and now we are taking a step further to international indirect real estate,” he adds.

In a recent move the pension fund also switched the manager of an e20m US mid-cap portfolio.
VKG dropped Denver Investment Advisors in favour of MFS International, a subsidiary of Boston based MFS Investment Management, owned by Toronto based Sun Life Financial.

“ We were not satisfied with the explanation they gave us on under-performance. The upside performance was nice, under-performance was not too bad, but it was the explanation we didn’t like,” says Stroobants.


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  • QN-2436

    Asset class: Real Estate - Core Open-ended Real Estate Equity Fund (non-listed).
    Asset region: Asia Pacific.
    Size: Approx. CHF 70-100m per investment.
    Closing date: 2018-05-25.

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    Asset class: High Yield Bonds.
    Asset region: US.
    Size: USD 300 million.
    Closing date: 2018-05-25.

  • RE-2441

    Closing date: 2018-05-31.

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