08 March 2012
Assets under Management up to nearly €13 billion
Investment management at BNP Paribas Real Estate has been growing strongly for the last three years in terms of both turnover (+ 10.3% in 2011) and assets under management (Aum), which now amount to nearly €13 billion. The company aims to continue growing and manage nearly €14 billion of Aum by the end of 2012.
2011 Key Figures
- €89.2 million gross turnover:
- A +10.3% increase over 2010
- +37% over 2009.
- Operating in six countries: France, Italy, United Kingdom, Spain, Luxemburg and Belgium
- €12.7 billion in assets under management in Europe:
Sharp rise of + €1.9 billion in 2011, of which + €550 million in retail and + €3 billion in 2010:
- 32% of assets are located in France
- 68% internationally
- €705 million net new equity for European investment funds
- €2.1 billion in transaction levels generated by REIM in 2011, making it one of the leading players in Europe.
“We are going to continue our dynamic growth by continuing to identify the best investment themes in all asset classes in the most promising countries in Western Europe”, says David Aubin, Managing Director for Investment Management at BNP Paribas Real Estate.
The company is aiming at increasing assets under management by at least €1 billion in 2012.
To do so, BNP Paribas REIM is planning to:
- Finalise a new closing from March 2012 onwards of over €60 million in equity the pan-European “Next Estate Income Fund” (NEIF) created in 2010 and focusing primarily on office space for which the investment strategy is based on high environmental quality assets.
- Launch new funds aimed at institutional investors including:
- A second fund focusing on retail space
- A hotel real estate investment fund (OPCI)
- A fund structured around development, re-development or renovation of office property in leading cities in France (Paris, Lyon, Marseille)
- An Italian core fund specialising in solar panels.
- Consolidate its “separate account” or “club deal” type operations, i.e., strengthen the already strong positions it has developed with key accounts and investors to support their outsourcing and asset coverage operations as part of the extension of contracts signed in 2011 (for example, in the United Kingdom with the Saudi fund Manafea and in Italy with the Scoaittolo fund on behalf of an Italian pension fund).
- Increase the capital of two funds aimed at the general public:
- New capital increase of €40 million in the Pierre Sélection real estate investment fund, SCPI dedicated to retail, asset AMF approval secured on 10 February 2012.
- Continue the capital increase in the Accimmo Pierre real estate fund (SCPI), which has diversified in corporate real estate.
BNP Paribas Real Estate Investment Management (REIM) is an international company integrated into BNP Paribas Real Estate’s Investment Management business. With authorisation from the French Financial Markets Authority, it builds and manages diversified real estate assets invested in funds (SCPI and OPCI) on behalf of third parties. At a European level, assets under management totalled €12.7 billion euros, up by 18% over 2010.
BNP Paribas REIM in France with €4.1 billion in assets under management as at 31 December 2011, is one of the French market leaders. On 1 January 2012 the business numbered more than 90 employees, managing a range of 16 SCPI invested in corporate and residential real estate corresponding to 753 properties and nearly 1.6 million sq m, and 4 OPCI governed by simplified operating rules
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