Hannover Leasing

What Hannover Leasing does

Hannover Leasing is a German Real Asset Investment Manager headquartered in Pullach (Munich) that designs, structures, and manages closed-end real estate funds for private and institutional investors. Founded in 1981, the firm has operated its own BaFin-supervised KVG (Kapitalverwaltungsgesellschaft) since 2014, enabling in-house management of the full spectrum of open and closed-ended special AIFs for institutional clients and public AIFs for retail investors, including German and Luxembourg fund vehicles. Across more than 300 investments the firm has deployed EUR 23 billion in transaction volume, raised EUR 11 billion in equity, and today manages approximately EUR 6 billion in assets (EUR 2 billion within the KVG) for over 45,000 private investors and 500+ institutional clients across Germany, Europe, and Asia.

The company's revenue model is built on three recurring fee streams: fund management fees on AUM, asset and portfolio management fees (including performance-linked compensation), and structuring and transaction fees for bespoke German and Luxembourg vehicles. Distribution is hybrid — closed-end public AIFs are sold to retail through qualified financial advisor networks and an in-house e-Direct underwriting platform, while institutional investors are served by a direct sales team that delivers special AIFs, club deals, and joint ventures. The firm's proprietary technology stack comprises its regulated KVG, a KVG-operated investor portal (KdPortal), and a sales partner portal (VpPortal), both technically hosted by Xpecto AG; supporting platforms include a recruitment portal operated by rexx systems and a secondary-market partnership with Fondsbörse Deutschland (Zweitmarkt.de).

Hannover Leasing operates as a wholly-owned subsidiary of CORESTATE Capital Group, maintaining bank- and conglomerate-independent positioning despite the parent relationship. Recent strategic activity reflects active portfolio rotation — including the 2025 sale of the Royal Liver Building in Liverpool to Princes Limited, the January 2026 disposal of Bahnhofszeile Freiburg for EUR 88 million, and the launch of the CRG II residential fund (which crossed EUR 500 million in April 2026) and the HL Invest neustädter Gießen public AIF in late 2025. ESG integration is institutionalised through a 2022 due diligence framework and four SFDR Article 8-compliant funds, with a 2040 climate-neutrality target for managed assets.

Name

Hannover Leasing

Legal name

HANNOVER LEASING GmbH & Co. KG

Website

https://hannover-leasing.de

Company type

Private

Founded year

1981

Operating status

Operating

Headcount range

11–50 employees

Short description

Hannover Leasing is a Munich-based Real Asset Investment Manager, founded in 1981, that structures and manages closed-end real estate funds for over 45,000 private and 500+ institutional investors via its own BaFin-supervised KVG, with ~EUR 6 billion in AUM across Europe.

Ownership category

akta.pro rank

Headquarters

HQ city

Pullach

HQ country

Germany

HQ region

Europe

Offices2 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

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

Revenue model

1. Fund Management Fees: Hannover Leasing generates revenue by managing real estate investment funds (public AIFs and special AIFs) on behalf of private and institutional investors. The company earns management fees from these funds, with equity raised since founding exceeding EUR 11 billion and AUM of approximately EUR 6 billion managed across the group.
2. Asset Management and Performance Fees: Revenue is derived from portfolio and asset management activities across the managed real estate portfolio, including acquisitions, structuring, and ongoing management of properties. The company also earns performance-related fees measured against fund objectives.
3. Structuring and Transaction Fees: The structuring team designs customized investment solutions for German and Luxembourg structures, earning fees for structuring services provided to investors and fund vehicles.

Pricing tiers

Go-to-market motion3 records

Distribution channels4 records

Marketing channels6 records

Core offering

Hannover Leasing is a Real Asset Investment Manager that structures, manages, and distributes real estate investment funds for private and institutional investors. Operating through its own BaFin-supervised KVG (capital management company) since 2014, it offers closed-end public AIFs (e.g., HL Invest neustädter, Gießen; Core+ Residential Germany Fund II), open and closed-ended special AIFs, Luxembourg structures, club deals, and joint ventures, with total AUM of approximately EUR 6 billion.

Product overview

Hannover Leasing is a Real Asset Investment Manager offering a portfolio of fund products for both private and institutional investors. The company operates through its own KVG (Kapitalverwaltungsgesellschaft) established in 2014. For private investors, the main current product is the public AIF 'HL Invest neustädter, Gießen' investing in an urban supply center. For institutional investors, Hannover Leasing offers various closed-end and open-ended special AIFs across multiple German and European cities including Vision One (Leinfelden-Echterdingen), Augsburg Offices, Johannis Quartier (Chemnitz), and properties in Neuss, Hannover, Düsseldorf, Darmstadt, Ulm, Münster, and Freiburg. The company also manages the Core+ Residential Germany Fund II residential fund. Additional services include investor and sales partner online portals for document access and portfolio management.

Differentiator

Problem solved

Functional benefit

Brands

• Core+ Residential Germany Fund II (CRG II): Residential real estate fund investing in German residential properties
• HL Invest neustädter, Gießen
• HL Invest

Products and services

• HL Invest neustädter, Gießen Public AIF (Alternative Investment Fund) for private investors investing in an urban supply center in Gießen, Germany. The multi-tenant property includes parking, fitness, daycare, health, shopping, and office spaces. Purchase factor at 10.4 times annual rent, planned payout approximately 7.0% p.a., with semi-annual scheduled payments and projected total cash flow between approximately 129%-216% (middle scenario 178%) over a planned 10-year term.
• Core+ Residential Germany Fund II (CRG II) Residential real estate fund focused on the German market under Hannover Leasing's Core+ strategy for stable, income-generating residential properties. Fund volume exceeded EUR 500 million as of April 2026, with a target payout of approximately 7.0% p.a. and projected total return of approximately 178.5% over a planned term of 10 years.
• Special AIFs (Open and Closed-Ended) for Institutional Investors Special AIFs designed for institutional investors, offering both open-ended and closed-ended structures for real estate investments. Available as German and Luxembourg structures, club deals, and joint ventures, providing tailored institutional-grade investment solutions.
• HL225 Vision One Single-asset closed-end real estate investment fund (HL225) in Leinfelden-Echterdingen with approximately 25,000 m² rentable area and total investment volume of approximately EUR 160.55 million.
• HL224 C[A]MPUS Part of Augsburg Offices Single-asset closed-end office property fund in Augsburg with approximately 8,700 m² rentable area and total investment volume of approximately EUR 46.31 million.
• HL223 Johannis Quartier, Chemnitz Single-asset closed-end real estate investment fund (HL223) in Chemnitz with approximately 14,300 m² rentable area and total investment volume of approximately EUR 69.64 million.
• HL222 Weitblick 1.7, Augsburg Single-asset closed-end real estate investment fund (HL222) in Augsburg.
• HL221 Büroimmobilie Neuss Single-asset closed-end office property fund in Neuss.
• HL220 Tiergarten-Carré, Hannover Single-asset closed-end real estate investment fund (HL220) in Hannover.
• HL219 Büroimmobilie Düsseldorf Single-asset closed-end office property fund in Düsseldorf.
• HL218 Quartier West, Darmstadt Single-asset closed-end real estate investment fund (HL218) in Darmstadt.
• HL217 Hotel- und Büroimmobilie, Ulm Single-asset closed-end hotel and office property fund in Ulm.
• HL216 Denkmal, Münster Single-asset closed-end heritage/monument property fund in Münster.
• HL215 Hotel- und Büroimmobilie, Freiburg Single-asset closed-end hotel and office property fund in Freiburg.
• HL214 Die Direktion, Münster Single-asset closed-end real estate investment fund (HL214) in Münster.
• Investor Portal (KdPortal) Password-protected online portal for investors to view their investments, access quarterly reporting, fund status updates, and personal investment information. Supports post-sale investor support activities.
• Sales Partner Portal (VpPortal) Online portal for brokers and distribution partners to view their brokered investments and access associated WpHG-compliant sales documents and marketing materials.

Quantifiable outcome

• Core+ Residential Germany Fund II (CRG II) exceeded EUR 500 million in fund volume as of April 2026
• +5 more outcomes

Named customers7 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

Feature4 records

Partnerships

Seven partnerships are on record, tiered minor.

• Princes LimitedminorOthers · 22 July 2025British food group Princes Limited acquired the iconic Royal Liver Building in Liverpool from Hannover Leasing. This transaction represents Hannover Leasing's successful exit from a property investment, with the sale managed as part of the company's portfolio management and asset disposition strategy.
• RTW Planungsgesellschaft mbHminorStrategic or Co-development Partner · 19 May 2025Hannover Leasing signed a long-term lease agreement with RTW Planungsgesellschaft mbH covering rental space at Gateway Gardens, Frankfurt am Main. This represents a strategic tenant relationship supporting Hannover Leasing's asset management activities at the property.
• ZIA (Zentraler Immobilien Ausschuss)minorOthersZIA is the German property association representing the entire real estate industry. Hannover Leasing Group is a member and benefits from cross-industry networking and industry representation.
• INREV (European Association for Investors in Non-Listed Real Estate Vehicles)minorOthersINREV is the European association for investors in non-listed real estate vehicles. Hannover Leasing maintains membership for industry visibility, best practice sharing, and network positioning within the European real estate investment community.
• Fondsbörse Deutschland Beteiligungsmakler AG (Zweitmarkt.de)minorChannel Partner/ Reseller/ DistributorPartnership with Germany's largest secondary market exchange for closed-end funds, enabling investors to buy and sell fund shares on the secondary market. Hannover Leasing refers investors to this platform for secondary market transactions. The platform has brokered over EUR 2 billion in nominal capital and operates under the Zweitmarkt.de brand.
• Multi GermanyminorOthersMulti Germany is referenced in connection with leasing success at the neustädter in Gießen shopping center. Hannover Leasing and Multi Germany celebrated a leasing success where a new anchor tenant was secured for the former MediaMarkt space.
• Ombudsstelle für Sachwerte und Investmentvermögen e.V.minorOthersIndependent ombudsman's office for closed-end funds. Hannover Leasing participates in the dispute resolution procedure before this arbitration board, providing investors with access to out-of-court dispute resolution for complaints related to investments.

Scale indicators10 records

Recent moves8 records

Expansion highlights6 records

Direct peers

• Real I.S. AG: Real I.S. is a German real estate investment manager (subsidiary of BayernLB) operating institutional Spezial-AIFs and open-ended funds for pension funds and insurance companies. Comparable to Hannover Leasing in institutional focus and European real estate coverage, though Real I.S. is structured within a public banking group.
• KGAL: KGAL is a German/European real asset and capital investment manager focused on closed-end funds for institutional and private investors. Hannover Leasing's CIO Stefan Ziegler previously spent 25 years at KGAL (10 as Managing Director), and the two compete directly for similar institutional and private investor mandates in German real estate.
• DIC Asset AG: DIC Asset is a German commercial real estate investment manager operating Spezial-AIFs and open-ended funds with an office-heavy portfolio similar to Hannover Leasing's. Both serve German institutional investors and operate their own regulated fund platforms, making them direct competitors in office-focused investment products.
• WealthCap (UniCredit subsidiary): WealthCap is one of Germany's largest closed-end real estate fund providers for private and semi-professional investors, distributing through banks and Sparkassen. Directly comparable to Hannover Leasing's PubAIF and HL Invest product line in distribution model and private investor target market.
• PATRIZIA SE: PATRIZIA is a German real estate investment manager with a comparable Spezial-AIF and open-fund product line serving institutional and private investors across Europe. Directly comparable to Hannover Leasing in product structure, target investor base, and regulatory approach, though PATRIZIA operates at materially larger AUM scale.
• Catella Real Estate AG: Catella Real Estate is a European real estate investment manager offering institutional real estate funds and club deals across Germany and Europe. Comparable to Hannover Leasing's institutional Spezial-AIF and club deal capabilities, with similar pan-European investor focus.

Others

• CORESTATE Capital Group: CORESTATE Capital Group is the Luxembourg-based parent company of Hannover Leasing and an adjacent investment manager operating real estate and real asset funds. Included as a peer for context rather than direct competition, given its role as parent and overlapping thematic exposure to European real estate investment management.
• Zweitmarkt.de (Fondsbörse Deutschland Beteiligungsmakler AG): Zweitmarkt.de is Germany's largest secondary market exchange for closed-end fund shares, with which Hannover Leasing has a formal referral partnership. Included as an ecosystem participant that enables liquidity for Hannover Leasing fund investors rather than as a direct competitor.

Broad incumbents

• Deka Immobilien: Deka Immobilien is the real estate arm of Deka Bank, managing one of the largest European real estate fund portfolios through open-ended funds and institutional mandates. A broad incumbent competitor to Hannover Leasing, with overlapping investor segments but operating at substantially larger AUM and within a major banking group's distribution network.
• Union Investment Real Estate: Union Investment Real Estate is one of Germany's largest real estate investment managers, part of the DZ Bank/Volksbanken group, offering open-ended and closed-ended funds to a broad institutional and retail base. A larger incumbent competing with Hannover Leasing across institutional and private investor segments, though Union Investment operates at significantly greater AUM scale and is bank-affiliated.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/hannover-leasing

Revenue estimate

Valuation estimate

Number of profiles

Profiles17 records

Subsidiaries1 record

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 Hannover Leasing