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Press Releases 2017

INTERNOS Global Investors and Principal announce strategic partnership in Europe


(London) – Principal Financial Group and INTERNOS Global Investors have today announced that Principal Global Investors (PGI), the asset management arm of Principal, will assume ownership of the European real estate investment firm, subject to regulatory approval. As part of PGI’s multi-boutique operating model, INTERNOS will retain its investment and management independence, while gaining access to the resources and scale of a major financial institution.

“As Principal grows its investment offerings and operations in Europe, we will continue to strategically invest in capabilities to deliver a greater range of solutions to our clients,” said Pat Halter, chief operating officer of PGI. “In addition to gaining a pan-European real estate platform, INTERNOS has local expertise and infrastructure in key European cities to grow our client base on the continent.”

With over six decades of experience investing in the sector, Principal Real Estate Investors is one of the top 10 real estate managers globally with US$ 74.9 billion in AUM. INTERNOS is a truly pan-European full service real estate investment management firm with more than 100 employees based in eight European offices and $3.25 billion[1] in AUM.

“As part of Principal, we will be in an even stronger position to offer attractive opportunities to our clients and investor partners, combining the resources of a leading global investment firm with the small-business agility and deep European market knowledge of INTERNOS,” said Andrew Thornton, CEO of INTERNOS.

The investment teams of INTERNOS will remain unchanged, and the senior management team will continue to guide the direction of the firm. Once the deal has received regulatory approval, INTERNOS will become Principal Real Estate Investors Europe.

Berkshire Capital served as financial advisors on the transaction to Principal.


About Principal®

Principal helps people and companies around the world build, protect and advance their financial well-being through retirement, insurance and asset management solutions that fit their lives. Our employees are passionate about helping clients of all income and portfolio sizes achieve their goals–offering innovative ideas, investment expertise and real-life solutions to make financial progress possible. To find out more, visit us at

About INTERNOS Global Investors (

INTERNOS Global Investors is a pan-European real estate fund and asset-management platform, which develops strategic investment and management solutions for institutional investors in all property asset classes across Europe. In addition to its London headquarters, INTERNOS has offices in Frankfurt, Amsterdam, Paris, Lisbon, Luxembourg, Madrid and Milan. INTERNOS employs more than 100 staff, manages circa 1,000 properties in eight countries and currently has $3.25 billion of assets under management.

[1]As of Sept. 30, 2017; €2.75 billion at 0.84722 euros per dollar exchange

Principal contact for further information:

  Marina Jane-Sanchez
T +44 203 7551 618          M +44 75 3569 3214

INTERNOS contact for further information:

James Verstringhe
T +44 020 7920 3150

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