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Bayerische Versorgungskammer (BVK) has launched a global REIT fund and has hired two managers to run the 鈧�300m strategy.

Principal Global Investors and LaSalle Investment Management will each manage 鈧�150m.

The 鈧�59bn BVK, Germany鈥檚 largest occupational pension fund, has decided to invest in listed real estate investment trusts as part of a move to diversify its real estate investments.

Norman Fackelmann, head of real estate investment management at the self-employed professionals scheme, told IP Real Estate that 鈥渇irst investments have already been made鈥�.

Last year, BVK and CBRE Global Investors two separate 鈧�500m mandates to invest globally in non-listed real estate.

BVK is also working on an infrastructure debt vehicle with two banks. The scheme set up a Luxembourg-based fund for infrastructure debt, co-financing loans for a gas pipeline through Germany and a Dutch prison, worth 鈧�20m-70m each.