South Africa’s largest pension fund increases stake in Atterbury Europe

South African investment fund Atterbury Europe remains committed to its desire to consolidate its presence in Romania and has announced that it is increasing the number of shares held by the Government Employees Pension Fund of South Africa, the largest pension fund from South Africa.

Atterbury Europe entered the local real estate market in 2017 through a joint venture with the IULIUS group. The local portfolio of the investment fund currently includes 50% of the Iulius Town Timișoara project, a 442 million euro investment opened in 2019, the largest injection of capital in real estate, as well as the national network Iulius Mall operating in Iasi, Cluj-Napoca and Suceava.

Atterbury Europe is strengthening its shareholding by increasing the number of shares held by the Government Employees Pension Fund (GEPF) of South Africa in Atterbury Europe, managed by the Public Investment Corporation SOC Limited (PIC).

Thus, Pareto Limited and BVI (Business Venture Investments No. 1360 Proprietary Limited – 100% owned by GEPF in South Africa and managed by PIC) will own 50% of the shares of Atterbury Europe, taking over the shares previously held by RMH Property Holdings (Pty) Ltd (“RMH Property”), in connection with a comprehensive restructuring of RMB Holdings Limited (owner of RMH Property) launched in 2019.

GEPF is South Africa’s largest pension fund. GEPF has over 1.2 million active members, over 450,000 pensioners and beneficiaries, and assets worth over 1.61 trillion rand (about 95 billion euros).

“We are impressed with how our projects in Romania are being embraced by locals and how attractive they are for investment. We are therefore certain that we will consolidate new projects that highlight the potential of the market. We have the support of our shareholders in our efforts to attract new investment projects to the local market,” said Henk Deist, managing director of Atterbury Europe.

Atterbury Europe is a European real estate investment company, founded in 2014, with a real estate portfolio exceeding one billion euros in Romania, Serbia and Cyprus. The company continues to expand through new projects under development in all the countries where it operates.

Atterbury Europe was founded by Atterbury Property Holdings (Pty) Ltd, which was established in 1994 in Pretoria, South Africa. Over the past 27 years, Atterbury has become a leading name in real estate investments and developments in South Africa, across the African continent and beyond its borders.

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