Rreef Alternative Investments, Deutsche Bank Asset Management's global alternatives asset management arm, said it has closed its deal to acquire a minority interest in Rosen Real Estate Securities LLC, a Berkeley, Calif., long/short real estate investment adviser.
The purchase, completed Monday, provides Deutsche Bank's institutional and high-net-worth investors with access to Rosen's strategies, Rreef said.
This year Rosen announced that GIC Real Estate, the real estate arm of the Government of Singapore Investment Corp., had committed $300 million of funds and acquired a minority stake.
Rreef has agreed to acquire the remaining interest in Rosen in one or more subsequent transactions. That deal is subject to certain conditions.
Rreef is based in New York and had $87 billion of assets under management as of June 30.