Third Party Management
Nordcapital wins extensive management mandate of Hesse Newman Funds
Investment company Nordcapital in Hamburg, Germany, assumed responsibility for managing the funds issued by Hesse Newman Capital as well as investor services as of 1 January 2015. The service contract comprises eight real estate funds and two secondary-market portfolio funds, increasing the real estate assets managed by Nordcapital by around €560 million to €1.3 billion and the shipping secondary-market segment by some €20 million to an investment volume of €291 million.
In order to be able to make its know-how as an asset manager available to third parties, the company founded Nordcapital Externe Fondsmanagement GmbH in October 2013. The first mandate the new service company attained in the same year, was a German office building of a third party closed-end fund.
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