Paris-based BNP Paribas Real Estate Investment Management added €3.3bn in assets in 2017 to reach €27.4bn in AUM, split between €1.7bn in cash inflows to its funds and €1.4bn in new commitments to separate accounts and mandates.
In a release prior to MIPIM 2018, the group, which covers eight countries, said it still manages the lion's share of assets in France - €12bn. But it also managed AUM of €5.2bn in Italy, €5bn in Germany, €3.6bn in the Benelux nations, and €1.6bn in other countries. Some 75% of investors in BNP Paribas REIM’s funds are institutions.
The investment management arm of BNP Paribas Real Estate said it achieved record transaction volume last year of €4.8bn, of which €3.5bn in investments and €1.3bn in divestments. The group is mainly invested in offices (61%), retail (17%), residential (9%), mixed buildings (5 %), and other asset classes such as technical, healthcare, hotel and leisure (8%). "Being part of one of the most successful real estate networks in Europe in combination with our focus on long-term sustainable outperformance contributes to strong growth," said BNP Paribas REIM Global Head Barbara Knoflach. "We are proud to have been able to expand our private clients business outside France and to onboard new separate accounts/mandates for institutional investors."
Former long-time Frankfurt-based CEO of Swedish banking group SEB's European property investment management, Knoflach has been head of of BNP Paribas REIM and joint CEO of BNP Paribas Real Estate since 2015.