Strategic business expansion: FOM Invest GmbH establishes renewable energy asset class
- Extended KVG license for the new asset class has been granted
- FOM Invest is a fully licensed AIF capital management company (KVG) for the asset class real estate
- Holger Pfleger joins the management board of FOM Invest
Heidelberg, July 13, 2023 - FOM Real Estate Group ("FOM Group"), successfully active as a project developer and asset manager for more than 25 years and as a fund manager since 2020, and Volksbank eG Braunschweig Wolfsburg ("Volksbank BraWo") with its group of companies, BRAWO GROUP, are further expanding their institutional customer business as shareholders of FOM Invest GmbH. FOM Invest, already a fully licensed AIF capital management company for the asset class real estate since 2020, is now opening up the new area of renewable energies. The necessary permission from the German Federal Financial Supervisory Authority (BaFin) has now been granted. Holger Pfleger is responsible for setting up the fund business. The 49-year-old joined the company in March as a general representative and is now appointed as an additional managing director of FOM Invest GmbH.
Prof. Reinhard Walter, managing partner of the FOM Real Estate Group, comments: "With the expansion of our investment spectrum to include the asset class of renewable energies, which we have been planning for some time, we are offering our investment partners the opportunity to diversify their portfolios to include properties in the Energy Transition sector. For us, this is the next logical step on our growth path."
Christian Röling, Head of BraWo Invest at Volksbank BraWo, which has been a 50 percent co-partner of FOM Invest GmbH through an investment holding company since March 2023, added: "We very much welcome the plans for the strategic further development of the KVG into the new asset class. We as BRAWO GROUP have also had a strong focus on accompanying the energy transition towards more sustainability as a financier and investor for some time."
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About FOM Real Estate
FOM Real Estate is an owner-managed company and has been successfully active as a project developer and asset manager for over 25 years. Since 1997, FOM has successfully completed projects with a total volume of 4 billion euros. FOM's investment partners include well-known national and international institutional investors. In addition to investment opportunities via individual mandates or club deals, FOM Invest also designs the launch of special real estate funds. FOM Invest, a company of the FOM Real Estate Group and BRAWO GROUP, is a fully licensed AIF capital management company (KVG) according to the German Investment Code (KAGB). Since 2020, FOM Invest has already launched three investment funds with a total volume of over EUR 300 million.
About Volksbank BraWo
As one of the largest Volksbanks in Northern Germany, Volksbank BraWo with its group of companies, the BRAWO GROUP, over 1,700 employees, forms an important success factor for the economy in the greater Braunschweig-Wolfsburg area. It currently has total assets of around six billion euros and unites more than 300 companies under the umbrella of the BRAWO GROUP, which are firmly anchored in the regional market, but some of which also operate nationwide. It is particularly characterized by its commitment to the real estate sector and also operates very successfully as a project developer throughout Germany. With its Real Estate division and the associated subsidiaries, it accompanies real estate throughout its entire life cycle. From large-scale and long-term urban district development to building land development, investment and asset management, property management and the brokerage of private and commercial real estate to home ownership and commercial real estate financing - around 200 competent contacts are active here. Volksbank BraWo has also been investing in existing real estate for around 15 years, where it generally pursues a policy of permanent ownership. Volksbank BraWo's leased space amounts to approximately 600,000 square meters. The total value of Volksbank's real estate portfolio is over one billion euros.