Rabobank’s former Bouwfonds team has launched up with Dutch private equity firm CommonWealth Investments to launch Primevest Capital Partners, a property investment boutique specialising in European infrastructure assets.
The collaboration follows Rabobank’s announcement earlier this week that it has disposed of €4bn in infrastructure, amounting to two thirds of its real estate subsidiary Bouwfonds. The decision has been taken as part of Rabobank’s strategy to cut back on its asset management activities.
As part of Rabobank’s decision, part of Bouwfond’s management took over Bouwfonds assets in a management buyout financially supported by CommonWealth Investments.
The result of this collaboration is Primevest Capital Partners, a property boutique now managing €1.3bn in infrastrucutre assets across ten European countries.
Bart Pierik, managing partner at the new boutique and former MD at Bouwfonds comments: “In recent years we have strengthened our leading position as car park investment manager, expanded our residential activities for key clients and launched a new fund in communication infrastructure, being the first investment manager to offer German institutional investors the opportunity to invest long-term in passive communication infrastructure assets. We see a growing interest from institutional clients for our innovative real asset investment strategies to further grow our assets under management.”
The new boutique will be based in Utrecht and employ 30 investment professionals focussing initially on Dutch and German institutional clients. Primevest Capital Partners will be led by former Bouwfonds IM employees Bart Pierik (managing partner), Ruud Roosen ( covering Parking infrstructure), Hans-Peter Renk (covering Residential assets), Bas van Dongen ( in charge of Communication Infrastructure) and former CFO of Foruminvest B.V., Walter Kuppens (Finance & Risk).