(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.

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.