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Principal RE arm merges with Internos Global

15 December 17 - RE+D Magazine
Principal RE arm merges with Internos Global

COMPANIES

IBI Group

Consultant - GREECE

Savills

Consultant - GREECE

Solum Property Solutions

Consultant - GREECE

ETAD.A.E.

Public entity - GREECE

PEOPLE

Antulio Richetta

Director IBI Group
Principal Global Investors’ takeover of Internos Global Investors is likely to add further momentum to Europe’s growing open-ended core property fund sector.

 

According to realestateipe.com, the US investment manager announced last week it is merging its €63.8billion real estate arm with the €2.75billion fund manager Internos, providing it with a European platform.

The acquisition is not about providing further scale – Principal’s real estate business is more than 20 times the size of Internos – but it does provide a pan-European platform from which to expand into the region.

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