Creating a global provider of real estate investments in Europe Complementary platform acquisition December 19, 2017 PATRIZIA Immobilien AG PATRIZIA Bürohaus Fuggerstrasse 26 86150 Augsburg T +49 821 50910-000 F +49 821 50910-999 immobilien@patrizia.ag www.patrizia.ag
Rockspring at a Glance KEY FACTS COMPANY LONDON HEADQUARTER AND EUROPEAN PLATFORM More than 30 years of eperience across Europe within real estate 7 Offices 110 Employees 7 Countries INVESTORS GLOBAL INSTITUTIONAL INVESTOR BASE >120 32% of investors outside Europe, 31% UK and no German investors Investors FUND MANAGEMENT CENTERED 100% COMMERCIAL REAL ESTATE FOCUS Pure commercial real estate investment focus, 52% retail DISCRETIONARY MANDATES AND SEPARATE ACCOUNTS Trans European Property series (Appro. 20%) Hanover & Pan-European (Appro. 16%) UK Value series (Appro. 10%) VALUE ADD AND CORE MANATES 43% Value add/core+ 57% Core/Core+ INVESTOR BASE 12 Funds 68% n.a. 31% 32% 27% 5% 7 AuM (EUR bn) EUROPE Germany UK REST OF WORLD APAC North America 2
Founded 1984, Rockspring operates 7 European offices and institutional client coverage in Seoul and Sydney Offices, pan-european investments and country history INTERNATIONAL PRESENCE COMPANY HISTORY Rockspring asset location Former Rockspring asset location Rockspring office # FTEs per country 1984 1993 Established as Montagu Investment Management Property Services Acquired by Prudential Insurance Company of America 2004 Rockspring MBO; fully independent and 100% owned by senior management and employees London - HQ Amsterdam 87 1 3 4 Brussels Paris 4 Madrid 8 Berlin 1 Warsaw 2005 2010 2011 2013 2017 today Opening of Madrid and Paris office Opening of fundraising presence in Sydney Opening of Amsterdam office Opening of fundraising presence in Seoul Transfer of Budapest to Warsaw office Pan-European asset manager with 110 employees, >120 global institutional investors and EUR 7bn AuM +2 employees in Seoul and Sydney (total FTEs: 110) 3
Following the acquisitions, PATRIZIA doubles AuM to EUR 38bn Combined Assets under Management (EUR bn) AuM BY COUNTRY TOTAL TOTAL AuM 20.5 9.8 7.0 0.9 38.3 100% Germany 14.3 6.8 2.4 23.5 61% UK & Ireland 1.8 0.5 2.4 4.7 12% France 0.4 0.1 0.9 1.4 4% Netherlands 1.3 0.2 0.2 1.8 5% Rest of Europe 1.5 2.1 1.1 0.2 4.9 13% LEGEND Rest of World 1.2 0.7 1.9 5% AuM Resi 7.5 0.4 7.8 20% BY ASSET CLASS Office Retail Logistics/ Industrials Infrastructure 7.4 3.2 1.1 1.1 0.4 2.2 4.5 1.2 3.7 1.7 0.2 0.1 0.2 13.8 8.0 2.8 2.2 36% 21% 7% 6% 25% Europe FoF BY GEOGRAPHY 46% Americas FoF Others Fund-of-funds 1.4 0.9 1.6 0.4 0.2 3.5 0.9 9% 2% 29% Asia 4
Acquisitions provide access to new investors, markets and products Key additions to PATRIZIA INVESTOR BASE MARKET COVERAGE PRODUCTS Strengthening eisting investor base in DACH region Supporting coverage European markets and new offices in Dusseldorf, Brussels, Milan, Warsaw, Stockholm & Vienna Epanding product coverage to adjacent infrastructure asset class and offering all investors clear flagship vehicles Increasing global investor base, particularly in Asia and North America Establishing new investment hub in London and strengthening pan- European presence Adding capabilities in managing discretionary capital Epanding value-add capabilities Providing access to majority of leading Danish institutional investors Enabling growth in overseas real estate markets Providing market insight through network of asset managers Epanding product coverage to fund-of-funds business Transition from DACH dominated to global investor base while consolidating DACH market position Etension of pan-european market coverage Establishment of foothold in overseas real estate markets Enhancement of eisting product coverage Addition of discretionary capital, infrastructure and fundof-funds capabilities 5
Our Vision: Become the Global Provider of European Real Estate Assets PATRIZIA M&A activity The acquisitions underline our Vision 1 Become preferred European investment manager for global investors Strengthen PATRIZIA s market presence in Europe with clear flagship products Epand international investor base, particularly towards Nordics, North America and Asia, while retaining and strengthening the current investor base Focused on real estate Compliment PATRIZIA s portfolio across real estate sectors and geographies Enable epansion into real estate related asset class infrastructure as well as management of discretionary capital and fund-of-funds vehicles Become preferred employer for best talent in the European R.E. industry Increase international career opportunities within PATRIZIA Strengthen PATRIZIA as a highly attractive employer of choice across Europe Scale and technology to drive sustainable financial profile Growing diversification and increasing recurring income stream will strengthen PATRIZIA s business model substantially Significant economies of scale through harmonisation of work streams 6