Principal and PAREF Gestion launch new fund

Principal Real Estate Europe and French asset manager PAREF Gestion have launched a new fund. The fund, SCPI Novapierre Allemagne 2, is the second fund in the SCPI Novapierre series, which provide institutional and private investors in France with access to returns from core plus retail assets in Germany. Guillaume Masset, head of transactions and asset management Europe at Principal Real Estate Europe, said: “This partnership is the perfect illustration of the DNA of our pan-European investment management platform, which offers cross-border solutions to our clients and a hands-on management approach.” Anne Schwartz, managing director of PAREF Gestion, said: “As part of our strong growth, we are proud to launch Novapierre Allemagne 2, our second fund dedicated to retail real estate in Germany. We are extremely confident that Paref Gestion’s 28 years of experience investing in real estate, as well as Principal’s in-depth knowledge of the German market, will enable us to make Novapierre Allemagne 2 a successful fund.”  To send feedback, e-mail anna.ward@egi.co.uk or tweet @annaroxelana or @estatesgazette