DWS: Clemens Schäfer named new Head of Real Estate Europe


DWS has named Clemens Schäfer to succeed George Allendorf as Head of Real Estate Europe, thus keeping the company management within its own ranks. Schäfer and Allendorf will work together during the coming months to ensure a smooth transition, with Schäfer officially taking over as Head of Real Estate Europe on July 1st, 2019. Allendorf became a member of the Supervisory Board of DWS Grundbesitz and DWS Alternatives on February 4th. Schäfer joined the company in 1998, and has been CIO and Head of Portfolio Management for the company’s real estate business in Europe since 2016. He was part of the management team under Allendorf and, according to DWS, was the driving force behind its institutional Spezialfonds activity, in which assets under management were increased from €700mn to around €8bn. Allendorf has been working for Deutsche Bank’s real estate fund arm since 2003. He took over the position as Head of Real Estate Europe in 2014.

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