Greenman Investments

What Greenman Investments does

Greenman Investments (legal entity: Premier Benchmark Property Ltd.) is a Dublin-headquartered, privately held Alternative Investment Fund Manager founded in 2005 and authorised by the Central Bank of Ireland (AIFMD authorisation C123941). The firm operates as a sector-specialist real estate investment fund manager with an exclusive focus on German food retail real estate — grocery anchored retail parks, retail warehouses, and standalone grocery stores — a niche it has occupied for roughly two decades. Its flagship vehicle, Greenman OPEN, is the largest German food-retail focused real estate investment fund on the market and was converted to a European Long-Term Investment Fund (ELTIF) in 2024, now operating as Europe's largest real estate ELTIF. A second fund, Greenman NEXT, invests across the EU in grocery anchored real estate, logistics and omni-channel grocery distribution. Both sit within a Luxembourg SICAV-FIS umbrella structure supervised by the CSSF.

The group's product and technology stack centres on a proprietary data integration platform ("One Source of Data") that links property-level data through to investor reporting, complemented by a Broker Portal (introduced 2019) and a secure investor Data Room. These systems underpin the firm's claim of a single, continuously updated data bank spanning the entire property-to-investor value chain. Operating subsidiaries cover the full real estate value chain: GFORM (tenant and commercial real estate management), White Bird (technical asset and transaction management), DINAMIK (Luxembourg fund administration, acquired 2020), Greenman Arth (French asset management), Greenman Poland (Polish food-anchored retail development), Greenman Partners (EU expansion and research), Greenman Energy (solar/EV charging on fund properties), Potager Farm (vertical farming), TechMash (software development), and yes& (creative consultancy). Headcount is approximately 75 professionals across Dublin, Berlin and Frankfurt.

Greenman's revenue model is that of a traditional fund manager: recurring management fees on assets under management (€1.27bn group AUM at Q3 2025) plus performance fees tied to investor distributions. Customer segments split between institutional investors and high net worth individuals on the direct channel, pension funds seeking long-duration income, and retail investors accessed via a broker portal and third-party investment platforms (historically including Aviva, which removed the fund in late 2024). The asset base is anchored by long-dated leases with German food retailers, with a weighted average remaining lease term of 9.63 years and €60.3m of annual rental income flowing through Greenman OPEN as of Q3 2025. Distribution combines direct enterprise sales, an online broker portal, industry events such as Expo Real, and quarterly performance webinars.

Name

Greenman Investments

Legal name

Premier Benchmark Property Ltd.

Website

https://greenman.com

Company type

Private

Founded year

2005

Operating status

Operating

Headcount range

101–250 employees

Short description

Greenman Investments is a Dublin-based, Central Bank of Ireland-authorised AIFM managing ~€1.27bn in real estate funds, exclusively focused on German and EU grocery-anchored retail property for institutional, pension and HNW investors.

Ownership category

akta.pro rank

Product category

Real Estate Investment Fund Management

NAICS

Funds, Trusts, and Other Financial Vehicles (525), Portfolio Management and Investment Advice (523940)

SIC

Investment Advice (6282), Investors, Nec (6799)

akta.pro primary industry

Renewables & Energy Transition Funds (Solar, Wind, Hydrogen, CCUS) (FSANAEAD)

akta.pro secondary industries

Sustainable Real Assets (Green Real Estate, Land, Forestry) Funds (FSANAJAD), Sustainable Private Markets (Impact PE/VC, Private Credit, Infrastructure) (FSAAALAG)

Keywords

• Real estate fund management
• German food retail investment
• Alternative investment funds
• Grocery anchored real estate
• ELTIF investment vehicle

Headquarters

HQ city

Dublin

HQ country

Ireland

HQ region

Europe

Offices3 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Marketing or Sales, Technology or R&D, Infrastructure

Revenue model

1. Fund Management Fees: Greenman generates revenue as a fund manager through management fees charged on assets under management. The company's sole investment focus is the creation of consistent annual income for investors through grocery anchored retail real estate funds.
2. Performance Fees: Fee arrangements designed to maximise conversion of rent obligations into predictable and consistent long-term investor distributions, including performance-based components.

Pricing tiers

Go-to-market motion2 records

Distribution channels4 records

Marketing channels7 records

Core offering

Greenman Investments is a sector-specific real estate investment fund manager that creates, manages, and distributes investment funds focused on German food-retail anchored real estate, including grocery-anchored retail parks, retail warehouses, and standalone grocery stores. The firm operates open-ended and closed-end fund vehicles under a Luxembourg SICAV-FIS umbrella structure (including the ELTIF-converted flagship Greenman OPEN and the EU-wide Greenman NEXT fund), generating revenue through management and performance fees charged on assets under management.

Product overview

Greenman Investments is a market-leading, sector-specific real estate investment fund manager founded in 2005, authorized by the Central Bank of Ireland as an Alternative Investment Fund Manager. The company operates through two primary investment funds: Greenman OPEN (flagship ELTIF fund focused on German food-retail real estate) and Greenman NEXT (EU-wide grocery anchored real estate and logistics fund). Both funds sit within the Greenman Investments S.C.A, SICAV-FIS Luxembourg umbrella structure. The group encompasses multiple subsidiaries providing specialized services including GFORM (tenant management), Greenman Arth (French operations), Greenman Poland (Polish development), DINAMIK (alternative investment services), TechMash (technology development), Potager Farm (vertical farming), Greenman Energy (solar/EV charging), White Bird (technical asset management), yes& (creative consultancy), and Greenman Partners (EU expansion). The company offers investor-facing platforms including a Broker Portal and Data Room for investor access and transparency.

Differentiator

Problem solved

Functional benefit

Brands

• Greenman OPEN: Flagship open-ended real estate fund focused on German food retail; largest German food-retail focused real estate investment fund on the market; converted to ELTIF structure in 2024
• Greenman NEXT
• Greenman European Supermarkets (GES)

Products and services

• Greenman OPEN (GMO) Flagship open-ended German food-retail focused real estate investment fund (now structured as an ELTIF). Invests in grocery anchored retail parks, retail warehouses, and standalone grocery stores to generate consistent annual income for investors.
• Greenman NEXT Part open-ended real estate fund investing in grocery anchored real estate, logistics, and omni-channel grocery distribution platforms across the EU.
• Greenman Investments S.C.A., SICAV-FIS Luxembourg-seated umbrella Alternative Investment Fund structure that houses multiple fund compartments including Greenman OPEN and Greenman NEXT.
• Broker Portal Online broker portal providing brokers with up-to-date personalized information on their clients' investments and enabling brokers to input information and applications themselves.
• Investor Data Room Secure data room portal for investors to access fund documents and information.
• GFORM (Greenman Fund and Real Estate Management) Real estate and tenant management specialist providing real estate and tenant management services within the Greenman Group.
• DINAMIK Specialist Alternative Investment Service Provider supporting investment and asset managers with real estate, private equity, and private debt strategies.

Quantifiable outcome

• €1.27bn European real estate assets under management
• +3 more outcomes

Named customers3 records

Segments3 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature2 records

Partnerships

Three partnerships are on record, tiered minor and core.

• AvivaminorChannel Partner/ Reseller/ Distributor · 1 January 2024Aviva was a key investment platform through which Greenman Open fund was distributed to Irish investors. Aviva removed Greenman Open from its platform in late 2024, which contributed to redemption pressures.
• EDEKA-Hannover MindencoreStrategic or Co-development Partner · 1 January 2015Sale and lease back joint venture deal to acquire 28 food retail stores and one Fachmarktzentrum from EDEKA-Hannover Minden as a joint venture with a German listed real estate fund. This was Greenman's first major acquisition of food retail assets in Germany.
• TechMashminorImplementation/ SI/ Consulting PartnerTechMash provides end-to-end services for custom web application development, desktop application, API development and software testing services. Listed as part of Greenman Group ecosystem.

Scale indicators13 records

Recent moves11 records

Expansion highlights6 records

Broad incumbents

• KGAL: German investment manager with real estate and infrastructure funds, including retail-focused strategies. Similar European AIF structure but broader mandate and larger AUM than Greenman.
• CBRE Investment Management: One of the world's largest real estate investment managers with dedicated European retail strategies. Overlaps with Greenman in grocery-anchored and daily-needs retail but operates globally with far greater scale.
• MEAG (Munich ERGO Asset Management): European asset manager with significant real estate capabilities, including German retail exposure. Comparable regulatory and distribution profile to Greenman but operates at much larger scale across multiple asset classes.
• Schroder Real Estate: Global real estate investment business with European retail strategies including food-anchored assets. Comparable European institutional distribution and AIF structure, but with broader asset class mandate.
• Union Investment Real Estate: One of Germany's largest real estate fund managers with open-ended and special funds across retail, office, hotel and logistics. Overlaps with Greenman in German retail real estate but at much greater scale and broader mandate.
• LaSalle Investment Management: Global real estate investment manager with European retail and food-anchored strategies. Comparable in pursuing institutional capital for grocery/last-mile retail assets, though at global scale.
• Deka Immobilien: German real estate fund manager with open-ended and special funds covering retail, office and logistics across Europe. Comparable as a German-regulated AIFM operating retail-focused strategies, but with substantially larger AUM and broader scope.

Direct peers

• Habona Invest: German retail real estate fund manager specializing in German food-anchored retail parks and grocery-anchored assets — directly comparable niche to Greenman OPEN's investment focus and German retail tenant base.
• Catella Real Estate: European real estate fund manager with retail-focused funds and pan-European mandate. Comparable investment focus on European grocery-anchored and daily-needs retail real estate, making it a direct competitor for capital and assets.

Emerging players

• Jamestown: Specialist in German food-anchored and daily-needs retail real estate with thematic focus similar to Greenman. Comparable niche strategy targeting grocery-anchored retail parks in Germany, though smaller and US-headquartered.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights6 records

Customer concentration

• YouTubevimeo.com/greenmaninvestments
• LinkedInlinkedin.com/company/greenmaninvestments

Compliance2 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles9 records

Subsidiaries10 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Greenman Investments