Finance Institutional Investment
ING's New Global Real Estate Fund Kicks Off with $300M Investment
July 31, 2008
By: Barbra Murray, Contributing Editor

London-based ING Real Estate Select has just introduced its Global Osiris Property Fund to the market. Seed investor London Pensions Fund Authority has thrown in approximately $297 million to get Global Osiris off the ground, and other institutional investors seeking to diversify assets through the penetration of international property markets can join in with a minimum investment of about $12 million.

Global Osiris is being touted as one of the first open-ended, core-balanced global funds. The investment vehicle, which is aiming for an 8 to 10 percent net return, will have few boundaries, targeting premium real estate in all property sectors in various locations around the world.

While Global Osiris will set its sights on a broad range of property types, other recently established ING Real Estate funds are targeting more specific real estate sectors. Last month, the company announced the establishment of the ING European Healthcare Property Fund with an investment target of over $1 billion in healthcare real estate predominantly in Germany, France and The Netherlands. And in May, ING Real Estate opened the $1.5 billion ING European Infrastructure Fund, focusing on a variety of infrastructure assets; the fund has already jumped into the motorway service station market by taking a 29 percent share in Appia consortium.

Real estate investment funds of all types frequently pop up around the world. Last month, London's Sunday Telegraph reported that Prince Charles is planning to launch Tellesma, a nearly $2 billion fund that will focus on brownfield sites for sustainable development throughout Britain.

ING Real Estate Select is the dedicated property multi-manager entity of ING Real Estate, an international real estate concern active in investment management development and finance. ING Real Estate's total business portfolio is exceeds $155 billion.

 
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