NETHERLANDS - The Dutch building workers pension scheme has committed equity on behalf of two pension fund clients to a real estate fund run by Aareal.

BPF Bouwinvest, which runs the property portfolio of Bedrijfstakpensioenfonds voor de Bouwnijverheid, the Dutch Building Workers' Pension Scheme, has committed equity to the Aareal EuroLogistics Fund, Aareal said.

The move was on behalf of two external clients: Stichting Vroegpensioenfonds Bouwbedrijf and Stichting Vroegpensioenfonds UTA.

Harry Humble, director of institutional relations at Aareal Property Services declined to say how large the investment was but said it was "sufficiently large to be meaningful".

The Aareal EuroLogistics Fund is a pan-euro zone distribution centre fund operated by Aareal Asset Management.

"Whilst our largest mandate is the Building Workers' Pension Fund, we also run a number of other mandates in our property asset management role," a BPF Bouwinvest spokesman was quoted as saying.

"We believe the Aareal EuroLogistics Fund gives these two clients a broad geographic exposure to what is an increasingly mainstream asset class in distribution centres."

The fund has a broad geographic asset allocation target with a heavy weighting to Germany. It is a closed-end investment vehicle targeting €500m in distribution centre assets across the euro zone.

Aareal Bank AG is headquartered in Wiesbaden, Germany.

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