Munich Prosecutors Raid BVK Pension Fund Over US Property Deals
· Business · Bloomberg, LiveMint
Munich prosecutors have raided the German pension fund group BVK as part of an investigation into its US property investments. The search occurred just two days after investigators targeted the asset manager Deutsche Finance in connection with the same inquiry. Authorities are examining the fund's involvement in American real estate transactions. No further details regarding the specific allegations or the scope of the investigation have been released.
Why it matters
The raid signals heightened regulatory scrutiny into the cross-border real estate investment practices of major German institutional investors.
Read the original report — Bloomberg
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