VersAM Versicherungs-Assetmanagement, the €42bn asset manager, has not made any real estate investments so far in 2011 and does not intend to allocate to the asset class in H2 2011. Despite this, it feels that it could commit €250mn to the real estate asset class from Q1 2012 onwards. It has earmarked €200mn to be committed to private real estate vehicles, with the remainder targeted towards direct real estate.
VersAM has yet to decide on the type of private real estate fund strategies it will commit to. Nonetheless, the asset manager thinks that it will focus on domestic real estate markets and target the US. To a lesser extent, it could also target the property markets of France.