PATRIZIA Multi Managers (PMM and formerly known as Sparinvest Property Investors) is a dedicated team within PATRIZIA, specialising in manager selection and alpha creation. On behalf of pension funds, corporations, insurance companies and family offices, PMM manages four global real estate funds with total commitments of approximately EUR 1.5 billion.
Since its inception in 2005, PMM has invested with more than 40 distinct local operating managers in Asia, Americas and Europe. Through its unique international network of contacts and thorough investment process, PMM identifies, analyses and selects the “winning managers” and the “winning strategies” with the aim to generate alpha returns to investors.
While achieving enhanced returns, each PMM fund has a modest risk level as the portfolio typically consists of more than 200 individual properties located in different markets and within different property sectors and risk/return categories. The financial leverage is also relatively conservative at approximately 50% loan to value.
PMM combines a bottom-up investment approach with a top-down research validation. In order to get access to the best investment opportunities and allow for successful execution, PMM invests with operating managers through a combination of commingled fund structures, clubs, joint ventures and co-investments.
In order to avoid potential conflict situations, PMM will not invest in PATRIZIA managed products.