pbb and Amundi cooperating in fund origination

Deutsche Pfandbriefbank AG (pbb), a leading specialist European bank in commercial real estate financing, and Amundi Deutschland GmbH, a subsidiary of the largest European asset manager Amundi, have closed a contract for cooperation and will work together in the distribution of pbb’s planned open-ended real estate special fund to institutional investors.

In concrete terms, the next step is the distribution of the fund’s shares of a product, designed by a team from pbb and Amundi Deutschland GmbH. As a result, both companies can ensure that interested and potential clients are approached by existing contacts.

pbb brings with it its real estate expertise and its network of institutional real estate investors, whilst Amundi Deutschland GmbH makes contact with a wide range of institutional investors possible through its extensive, country-wide network.

„We are pleased to have found a large, professional partner in Deutsche Pfandbriefbank, which is able to offer local and very specific product solutions for our institutional investors in the area of German office real estate and mixed-use properties,” said Christian Pellis, CEO at Amundi Deutschland. „With this cooperation, we are expanding our product range for our institutional investors with a further asset class which is of interest to our target clients.”

“With this fund, we are extending our business model,” said Andreas Arndt, CEO at pbb. “With the expansion into the area of investment management, we are driving the diversification of our business model decisively forward and want to tap into a new source of income. The cooperation with Amundi should make an important contribution in achieving this.”

On 9 March 2023, pbb presented an ambitious growth target and relevant strategic initiatives. The Bank’s strategic focus continues to be on the core business segment of real estate finance. The new business area is aimed at extending growth potential and increasing profitability, whilst keeping strictly to cost targets.