CBRE attains AIFMD licence

The independent multi-manager division of CBRE Global Investors has been given AIFMD accreditation, one of the first property fund managers to receive such authorisation.

CBRE Global Multi Manager, a division of CBRE Global Investors, has been granted an Alternative Investment Fund Manager Directive licence, according to a statement. The grant makes CBRE one of the first property fund managers to receive such authorisation.

“We are proud to be among the first in the property industry to receive our AIFMD licence. It shows our continued commitment to meeting the highest of regulatory standards across Europe,” wrote Jeremy Plummer, chief executive officer of CBRE Global Multi Manager, in the statement.

The AIFMD licence requires European-based alternative investment fund managers to comply with regulatory standards relating to licensing, operating conditions and transparency. As a result of the licence, CBRE Global Multi Manager will be able to continue as an investment manager after 22 July.

CBRE Global Multi Manager was also awarded a passport to market its funds across Europe without needing to go through a national private placement regime in each member state.

The Global Multi Manager division invests into private real estate funds, including secondaries and co-investment vehicles, on behalf of separate account clients, according to its website. It currently has $12.3 billion in assets under management.

Last week, Secondaries Investor reported that CBRE Global Investors had sold a significant stake of its Dutch Office Fund to a number of pension funds represented by Dutch pension fund manager Blue Sky Group.

“The transaction is part of a modification of the real estate investment portfolios and was derived from a broader diversification and positioning study,” Blue Sky chief investment officer Mark Burbach said at the time.

CBRE Global Investors, an independent branch of CBRE Group, sponsors real estate investment programmes for investors across North America, Europe and Asia according to its website. CBRE Group has $90.2 billion under management.