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  • Seller
  • Buyer
  • Type
  • Date Announced
  • Seller AUM
  • INTERNOS Global Investors
  • Principal Financial Group
  • Real Estate Managers
  • November 30, 2017
  • $3.25 Billion

Seller Details

INTERNOS Global Investors is a pan-European real estate fund and asset-management platform, which develops strategic investment and management solutions for institutional investors in all property asset classes across Europe. In addition to its London headquarters, INTERNOS has offices in Frankfurt, Amsterdam, Paris, Lisbon, Luxembourg, Madrid and Milan. INTERNOS employs more than 100 staff, manages circa 1,000 properties in eight countries and currently has $3.25 billion of assets under management.

Buyer Details

Principal helps people and companies around the world build, protect and advance their financial well-being through retirement, insurance and asset management solutions that fit their lives. Principal employees are passionate about helping clients of all income and portfolio sizes achieve their goals–offering innovative ideas, investment expertise and real-life solutions to make financial progress possible.

Principal Global Investors, the asset management arm of Principal Financial Group, operates a multi-boutique model across several asset managment boutiques.  With over six decades of experience investing in the sector, Principal's Real Estate business is one of the top 10 real estate managers globally with $ 74.9 billion in AUM.

Transaction Summary

Principal Global Investors, the asset management arm of Principal Financial Group, entered into a definitive agreement to acquire INTERNOS Global Investors, the pan-European Real Estate investment firm. As part of PGI's multi-boutique operating model, INTERNOS will retain its investment and management independence, while gaining access to the resources and scale of a major financial institution.  The investment teams of INTERNOS will remain unchanged and the senior management team will continue to guide the direction of the firm. Once the deal has received regulatory approval, INTERNOS will become Principal's Real Estate business in Europe.
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