RREEF Alternative Investments, the global alternatives asset management business of Deutsche Bank’s (XETRA:DBKGn.DE / NYSE:DB) Asset Management business (DeAM), today announced that it finalized an agreement to acquire a significant minority interest in Rosen Real Estate Securities LLC (RRES), a Berkeley, CA-based, long/short real estate investment advisor.
The firms will expand RRES’s long/short real estate investment platform and collaborate on product distribution, which will provide Deutsche Bank’s institutional and high net worth investors access to RRES’s strategies. RRES currently manages long/short real estate strategies, including its long-standing Rosen Real Estate Securities Value Fund I, L.P. Existing RRES teams will continue to be responsible for portfolio management.
Earlier this year, Rosen announced that GIC Real Estate (GIC RE), the real estate arm of the Government of Singapore Investment Corporation, had committed US$300 million of funds and simultaneously acquired a minority stake in Rosen Real Estate Securities. GIC RE will remain an investor and owner following RREEF’s acquisition of a minority stake in RRES.
Subject to certain conditions, RREEF has agreed to acquire the remaining interest in RRES in one or more subsequent transactions, with Rosen and RRES teams responsible for fund management. Financial terms were not disclosed.
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