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Credit Suisse wants to buy more in Germany
Credit Suisse is “seriously” considering a successor for the open-ended fund CS Euroreal, said Karl-Josef Schneiders, Managing Director of Credit Suisse Asset Management in Frankfurt, at the Mipim. A decision is anticipated in May. In Germany, the firm had recently focused on settlement of the previous flagship. “We wanted to do it right, not least because we did not want to jeopardize this opportunity to launch a successor,” Schneiders added. But even without a new retail fund, he intends to concentrate more on purchases is Germany again. His company is looking for international and Germany-focused funds for institutional investors and through individual mandates and investor clubs. Assets starting from €20mn will be considered, but recently the firm has also bid on larger tickets of more than €500mn. “As a bank, we have excellent access to institutional investors, ultra-high net worth individuals, and Asian investors,” Schneiders emphasized. Credit Suisse manages a property portfolio of €40bn worldwide.
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