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Hana Asset Management joins with Commerz to explore real estate investment opportunities in Europe

Collected: 2016.04.21

Distributed: 2016.04.22

Source: Go Direct

Hana Asset Management Co., a unit of South Korea’s Hana Financial Group, said it entered partnership with Commerz Real AG, an asset management company under Germany-based financial group Commerzbank AG, to seek out investment opportunities in commercial real estate properties in Europe for local clients with waning investment options at home.

The asset management company said on Tuesday that CEO Cha Moon-hyun visited the headquarters of Commerz Real in Wiesbaden, a city in central western Germany, on Monday (local time) to sign a memorandum of understanding (MOU) for mutual cooperation with Commerz Real to explore and develop real estate investment opportunities in cities across Europe.

Established in 1972, Commerz Real is a management company specializing in alternative investment under Germany’s Commerzbank AG. The company has managed Hausinvest Fund, the nation’s largest open-end retail fund, for 43 years and manages 31 billion euros ($35 billion) in total assets.

“We would be able to provide local institutional investors investment opportunities in not only popular countries like Britain, Germany and France, but also less known but highly credit-worthy Finland, Norway, Sweden and the Netherlands,” said Cha of the company.

Hana has been expanding in alternative category and joined up with local institutional investors to take over two new logistics centers of Amazon.com, Inc. in Poland earlier this year.

By Song Gwang-sup

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