Most significantly, INTERNOS joined the bidding in late 2009 to acquire (at a nominal fee) the Australian GPT group’s European fund business as it made a strategic decision to exit Europe.

Competing with up to 40 of its peers and having to convince both GPT and the larger fund investors of its credentials, INTERNOS was successful and took over GPT Halverton in December 2009. This gave a vital platform of approximately €1.5 billion assets under management and a team with on the ground expertise in Germany and the Netherlands as well as a highly reputed fund management and structuring team in London and Luxembourg. Since 2009 INTERNOS has grown through fund closings, winning new separate account mandates, and succeeding in manager replacement bids.

On 16 April 2018, Principal Financial Group and INTERNOS Global Investors announced that Principal had successfully concluded its acquisition of INTERNOS. INTERNOS became Principal Real Estate Europe, retaining its investment and management independence as part of Principal’s multi-boutique operating model, while gaining access to the resources and scale of a major financial institution.