RREEF finalises RE hedge fund deal

The alternatives arm of Deutsche Bank has closed a deal to buy a ‘significant minority’ interest in Rosen Real Estate Securities. It follows the $300m investment and purchase of an equity stake in Rosen by GIC Real Estate.

RREEF has closed its deal for a “significant minority” interest in the real estate hedge fund, Rosen Real Estate Securities.

The alternatives arm of Deutsche Bank said in a statement it had finalised the acquisition after first announcing it in October. Financial terms were not disclosed.

RREEF Alternative Investments, which includes real estate, infrastructure and private equity operations, said the deal would provide another investment option for clients and help RREEF “deploy capital”.

It follows on from a $300m investment and purchase of an equity stake by GIC Real Estate, the real estate arm of Singapore’s sovereign wealth fund, in January. GIC Real Estate will remain an investor and minority stake holder following the RREEF deal, Deutsche Bank said.

Ken Rosen founded Rosen Real Estate Securities (RRES) in 2004 after selling Lend Lease Rosen Real Estate Securities, a $3 billion REIT in June 2003. RREEF said it would help expand RRES’ long/short real estate investment platform and collaborate on product distribution.