Reech CBRE Fund wins ‘launch of the year’ prize at Funds Europe Awards
Reech CBRE Alternative Real Estate Fund has won the prize for the ‘European launch of the year’ at the Funds Europe Awards in London. Funds Europe is a business strategy magazine; its target is the European asset management specialist.
The prize which the multi-strategy fund managed to carry off last Thursday (4 December) was awarded in the Business Awards category. The European fund, founded in May 2007, has been using a new strategy whereby partly by means of complex derivatives, positions are taken on the European property market. Another part of the strategy is the taking of long and short positions in listed property companies and investments in unlisted funds.
Graham Barnes, Senior Director, Real Estate Finance, CBRE, “We are delighted that the unique combination of the property expertise and insight of CB Richard Ellis and the knowledge of capital markets and risk management of Reech AiM has consistently generated positive output. The more so in the currently unprecedented market turbulence and depreciation it is wonderful to be acknowledged in such a way.”
Since its creation in 2007 the fund has been one of the best performing property investment funds in Europe. It has over €150 million of managed assets with a net return of 33% since commencement of which 7% was realized this year.