REICO

What REICO does

REICO investiční společnost Erste Asset Management, a.s. (REICO) is a Czech investment company founded in 2006 that specializes in establishing and managing open-ended real estate funds and investing in commercial and residential property across Central Europe. The company manages over 55 billion CZK in assets (as of November 2025) through three primary vehicles: REICO NEMOVITOSTNÍ, a conservative open-ended fund focused on premium commercial (primarily office) real estate with up to 90% property allocation; REICO LONG LEASE, a fund investing in logistics, industrial, retail, and office assets under leases of 10+ years with annual rent indexation; and FKI REICO EPB I, a qualified-investor fund targeting residential rental income at higher risk-tier returns. All three funds reinvest income rather than paying dividends and offer daily liquidity, with retail entry points as low as 300 CZK and a qualified-investor minimum of 1,000,000 CZK.

REICO's go-to-market is distribution-led rather than product-led. Fund units are sold primarily through Česká spořitelna's branch network and GEORGE internet banking platform, with private banking relationships handled by Erste Premier and Erste Private Banking, and supplemental external distributors. The firm charges management fees deducted from fund assets plus a 1.50% entry fee on subscriptions (no exit fee), making the revenue model a mix of recurring AUM-based fees and transactional entry fees. Customers span conservative Czech retail investors seeking inflation-protected wealth preservation, moderate-risk investors seeking long-lease yield, qualified investors/HNW clients seeking residential exposure, and institutional investors requiring diversified Central European real estate exposure.

Since 2024, REICO has been a wholly-owned subsidiary of Erste Asset Management GmbH, itself part of the Austrian Erste Group, which owns Česká spořitelna — the company's primary distribution partner. The fund manager is overseen by a small leadership team headed by Chairman Dušan Sýkora (appointed July 2023), Vice-chairwoman Lucia Houfková, and Board Member/General Director Martin Řezáč, with operations built around independent expert-committee property valuation and EU/Czech collective investment regulation.

Name

REICO

Legal name

REICO investiční společnost Erste Asset Management, a.s.

Website

https://reico.cz

Company type

Private

Founded year

2006

Operating status

Operating

Headcount range

11–50 employees

Short description

REICO is a Czech investment company that manages open-ended real estate funds (REICO NEMOVITOSTNÍ, REICO LONG LEASE, FKI REICO EPB I) with over 55 billion CZK in AUM across Czech Republic, Poland, and Slovakia, distributed chiefly through Česká spořitelna and Erste Group's private banking channels to retail, qualified, and institutional investors.

Ownership category

akta.pro rank

Product category

Real Estate Investment Management

NAICS

Portfolio Management and Investment Advice (523940), Funds, Trusts, and Other Financial Vehicles (525), Open-End Investment Funds (525910)

SIC

Real Estate Investment Trusts (6798), Investors, Nec (6799), Real Estate Dealers (For Their Own Account) (6532)

akta.pro primary industry

Real Estate Portfolio & Fund Management (Institutional/REIT/PE) (BPAJAMAJ)

akta.pro secondary industries

REITs & Listed Real Estate Securities (FSAAAKAD), Real Assets & Infrastructure ETFs (REITs, Infrastructure, Natural Resources) (FSAAAFAH)

Keywords

• Real estate funds
• Asset management
• Investment management
• Commercial real estate
• Real estate investment

Headquarters

HQ city

Praha

HQ country

Czechia

HQ region

Europe

Offices1 record

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

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

Revenue model

1. Management fees: REICO charges management fees for overseeing real estate portfolios. Fees are deducted directly from fund assets, reducing fund performance rather than being charged separately to investors.
2. Entry/sales fees: Entry fee of 1.50% charged to investors purchasing fund units. Exit fees are 0%.
3. REICO LONG LEASE fee income: The fund generates returns from rental income on long-term leased commercial properties (logistics, industrial, retail, office) with annual rent indexation.
4. FKI REICO EPB I fee income: Qualified investor fund generating stable rental income from residential housing with inflation protection clauses.

Pricing tiers

Go-to-market motion2 records

Distribution channels4 records

Marketing channels6 records

Core offering

REICO is a Czech investment company that establishes and manages real estate mutual funds, pooling investor capital to acquire and manage premium commercial and residential properties across Central Europe. The company operates three core funds — REICO NEMOVITOSTNÍ for conservative retail clients, REICO LONG LEASE for long-term lease income, and FKI REICO EPB I. for qualified investors — providing professional property management, inflation-protected returns, and daily liquidity to investors.

Product overview

REICO investiční společnost Erste Asset Management is a Czech investment company offering a suite of three distinct real estate mutual funds managed under the REICO brand. The core product portfolio consists of: (1) REICO NEMOVITOSTNÍ - a standard real estate fund for conservative clients investing in premium commercial properties; (2) REICO LONG LEASE - a fund focused on long-term lease arrangements with minimum 10-year rental contracts; and (3) FKI REICO EPB I. - a fund for qualified investors targeting residential housing rental income. All three funds operate as long-term investment vehicles with inflation protection mechanisms and reinvest profits rather than paying dividends. The company also provides portfolio management services for properties held within these funds, including acquisition, development, and active property management across Central Europe.

Differentiator

Problem solved

Functional benefit

Brands

• REICO NEMOVITOSTNÍ: A real estate fund investing up to 90% in completed and rented premium commercial real estate (primarily office properties), with minimum 10% in liquid financial assets. Designed for conservative to dynamic clients with a minimum recommended investment horizon of 5 years and minimum investment from 300 CZK.
• REICO LONG LEASE
• FKI REICO EPB I.

Products and services

• REICO NEMOVITOSTNÍ A real estate mutual fund that invests up to 90% of its assets in completed, leased premium commercial properties (primarily offices) and holds at least 10% in liquid financial instruments. Minimum investment from 300 CZK, targeting conservative to dynamic investors with a recommended 5-year horizon. Returns are tax-exempt after 3 years for Czech investors.
• REICO LONG LEASE A real estate fund focused on long-term rental income from commercial properties with lease terms of at least 10 years. Targets risk level 3 on a 1-7 scale, invests in logistics, industrial, retail, office, and other commercial properties primarily in Central Europe. Property component comprises up to 90% of fund value. Minimum investment from 300 CZK.
• FKI REICO EPB I. A qualified investor fund focusing on stable rental income from residential housing. Targets return at the 6th risk grade on a 1-7 scale with minimum investment of 1,000,000 CZK. Invests in properties on Czech Republic territory and other Erste Group active countries with buildings critical to tenants' housing needs.
• Real Estate Fund Portfolio Management Services Comprehensive portfolio management services for real estate properties held within the funds, including property acquisition, development, redevelopment, and renovation through reputable construction companies. Active property management across Central Europe.

Quantifiable outcome

• Minimum investment as low as 300 CZK for retail access to billion-CZK commercial properties
• +2 more outcomes

Named customers4 records

Segments4 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

One partnership is on record.

• Česká spořitelnacoreChannel Partner/ Reseller/ DistributorMajor Czech bank and primary distribution channel for REICO funds. Provides branch network, GEORGE online banking platform, and customer relationships for fund distribution.

Scale indicators3 records

Recent moves7 records

Expansion highlights5 records

Broad incumbents

• Cromwell Property Group: Diversified real estate investment manager with European office and logistics funds, with overlap in the long-lease and office strategies pursued by REICO's funds.
• CBRE Investment Management: Large global real estate investment manager with European and CEE exposure, competing for institutional real estate mandates and capital that REICO also targets via its qualified investor fund.
• DWS Group: Global asset manager with significant real estate fund offerings, including open-ended products distributed through Deutsche Bank's retail network, comparable in structure and distribution logic to REICO.
• PATRIZIA: European real estate investment manager with a broad portfolio of open-ended and closed-end real estate funds; competes for institutional and retail CEE real estate capital overlapping with REICO's investor base.
• Invesco Real Estate: Global real estate investment manager offering diversified open-ended and closed-end real estate strategies, competing for the same institutional real estate allocations that REICO targets in CEE.
• Amundi Real Estate: Real estate arm of Amundi operating open-ended and institutional real estate funds across Europe, with banking-channel distribution similar to REICO's Erste/Česká spořitelna relationship.

Regional players

• Conseq Investment Management: Czech investment management company that operates domestic mutual funds including real estate strategies, competing head-to-head with REICO for the same Czech retail and institutional clients.
• AVIVA Investors Czech Republic: Local Czech asset management arm offering investment funds including real estate, overlapping directly with REICO in the Czech retail and institutional fund market.

Direct peers

• Union Investment Real Estate: Operates open-ended real estate funds sold through the Volksbanken Raiffeisenbanken cooperative banking network, structurally very similar to REICO's open-ended funds distributed via Česká spořitelna.
• Deka Immobilien: Manages open-ended real estate funds distributed primarily through the German Sparkassen banking network, mirroring REICO's bank-channel distribution model and open-ended real estate fund structure.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat5 records

Key risks5 records

Key highlights7 records

Customer concentration

Revenue estimate

Valuation estimate

Number of profiles

Profiles3 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 REICO