Catella, the Nasdaq Stockholm listed financial services group, has established a wholly owned subsidiary into which its existing Berlin based property business will be put as it seeks to develop investment management focused on real estate.
Catella Residential Investment Management GmbH, will be owned by Catella Property Fund Management AB, and focus on managing European residential property funds.
Catella Real Estate AG has been growing since January 2016 under Xavier Jongen and Michael Keune in Berlin, into a team of 18 who manage two mutual property funds and three special property funds. Funds invested in the five funds total €1.3bn thus far, with investments made in eight countries – Germany, Netherlands, Denmark, Spain, France, UK, Poland and Austria.
Adding the residential investment management business to the existing property portfolio business is intended to support Catella’s objective of managing residential property funds. Jongen and Keune will also be managing directors of Catella Residential Investment Management, while the existing Real Estate AG business will provide the back office function for all residential property funds managed by the new subsidiary.