Warburg-Henderson has launched a new pan-European property investment fund backed by an investment mandate from four municipal pension funds. Warburg-Henderson Koop will target EUR 300 mln of investment across Europe.

'There is a highly converging interest among the investors,' said Eitel Coridaß, managing director of Warburg-Henderson. 'This makes it possible for us to specifically address the needs of our investors, as in the case of individual funds.'

Warburg-Henderson is a partnership of German private bank MM Warburg & CO and UK asset manager Henderson Global Investors

The four pension funds, which have a similar investment strategy, have already committed EUR 200 mln of equity to the vehicle.

The fund will focus on risk-adverse investments in office and retail properties in Western Europe and targets an Internal Rate of Return of 6.5%. Its first acquisition is already underway, the company said.

Warburg-Henderson is also preparing a new fund which will bring together several German insurance companies, pointing to a rising trend in the industry.

Coridaß: 'Even though in the future there will still be large fund pools, we see more institutions looking for fund solutions that respond to the investment strategy of multiple investors, due to the similar acquisition profile. We are servicing this demand through individual and cooperation funds.'