TFTC on Nostr: Germany's largest public pension fund, BVK, is being sued by its asset manager ...
Germany's largest public pension fund, BVK, is being sued by its asset manager Deutsche Finance for allegedly controlling a $2 billion US real estate portfolio while publicly posing as a passive investor.
The portfolio included the Transamerica Pyramid and the Coca-Cola Building. Deutsche Finance claims that when US commercial real estate softened after 2020, BVK failed to approve the budgets, financing, and leases needed to protect the portfolio, contributing to losses estimated around $988 million.
The suit alleges BVK then ran a PR campaign blaming Deutsche Finance for the losses, made statements to regulators and the Bavarian Parliament, and withheld $31 million in contractually guaranteed fees.
Deutsche Finance is suing for breach of contract, defamation, and deceptive trade practices. BVK has previously rejected similar accusations.
h/t (kshaughnessy2)
Published at
2026-09-01 19:36:29 UTCEvent JSON
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