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Blackstone and Optimum Asset Management Form Joint Venture

Optimum Asset Management and Blackstone, the global alternative investment manager, have agreed to form a joint venture invested in a 30-asset real estate portfolio in Germany, valued at approximately €800 million.

Working with Evercore, the global investment adviser, Optimum explored a variety of options to provide liquidity for investors in the Optimum Evolution Fund SIF – Property II Fund, which was  launched in 2011. This process also enabled investors who wanted to remain invested in the German real estate sector to continue to do so and diversify their investment further.

Alberto Matta, Founder and Managing Partner of Optimum, commented, “We have seen attractive returns from this high-quality portfolio since its creation, which is testament to the strength of the German real estate market and the expertise of our team. We are delighted to be working with Blackstone and firmly believe in the continued prospects of this portfolio, which was built using our granular approach. We place particular emphasis on sourcing the right assets and managing them correctly. The commitment from Blackstone is an endorsement of the German real estate market, this portfolio and Optimum.”

James Seppala, Blackstone’s Head of Real Estate Europe, said of the joint venture, “We are impressed by the exceptional portfolio that Optimum has been able to assemble, and believe in the long-term growth of the German real estate market. We recognise Optimum’s ability to identify unrealised potential in real estate assets, undertake value-enhancing management initiatives, and to ultimately create sizeable, high-quality real estate portfolios. Combining this with Blackstone’s scale and resources will provide our collective investors with a unique opportunity in and exposure to the German real estate market.”