Manova Partners
Manova Partners is an independent, employee-owned Munich-based real estate investment manager managing approximately €10.4–12 billion in assets across 170+ properties in Europe, the Americas, Asia, and Australia, serving institutional investors and family offices through commingled funds and tailored separate account mandates.
- Company typePrivate
- Founded2000
- HeadquartersMünchen, Germany
- Headcount101–250
- GTM typeB2B
- OfferingServices
What Manova Partners does
Manova Partners is a Munich-headquartered, 100% employee-owned real estate investment manager that was founded in 2000 as GLL Real Estate Partners, operated within Macquarie Group from 2018, and relaunched as an independent firm in December 2024. The firm manages approximately €10.4–12 billion in assets across 170+ property investments spanning office, logistics, residential, and retail assets in 19 European countries, 18 US states, 3 Latin American countries, 4 Australian cities, and selected Asian markets, supported by 17 offices and approximately 150 professionals of 15 nationalities. Its product platform comprises four commingled funds — SIEREF 1, SIEREF 2 (joint with MAPFRE), MEPF, and the planned MELREF logistics fund — alongside bespoke separate account mandates for institutional investors and family offices.
Revenue is generated primarily through recurring management fees on the commingled funds and separate accounts, supplemented by transaction/acquisition fees (€409 million of deal volume in 2024 across €173 million of acquisitions and €206 million of disposals), asset management fees tied to active leasing (172,000+ sqm let in 2024), and fees on financing arrangements (€620 million concluded or extended in 2024). Distribution is entirely direct and relationship-led, with co-CEOs Christian Göbel and Florian Winkle personally leading capital raising alongside a regional leadership team; the firm reports no public pricing and negotiates fees individually based on mandate size and complexity. The firm holds AIFM authorization in Germany and Luxembourg supervision via CSSF, is a GRESB member since 2016, a UN PRI signatory, and operates all four funds under EU SFDR Article 8 with a 2030 net-zero carbon commitment, evidenced by top-tier building certifications (BREEAM Outstanding, DGNB Gold, LEED Gold) across the portfolio.
Manova Partners firmographics
Firmographics- Name
- Manova Partners
- Legal name
- Manova Partners GmbH
- Website
- https://manovapartners.com
- Company type
- Private
- Founded year
- 2000
- Operating status
- Operating
- Headcount range
- 101–250 employees
- Short description
- Manova Partners is an independent, employee-owned Munich-based real estate investment manager managing approximately €10.4–12 billion in assets across 170+ properties in Europe, the Americas, Asia, and Australia, serving institutional investors and family offices through commingled funds and tailored separate account mandates.
- Ownership category
- akta.pro rank
Manova Partners industry classification
Industry- Product category
- Real Estate Investment Management
- NAICS
- Other Investment Pools and Funds (5259), All Other Financial Investment Activities (52399)
- SIC
- Investment Advice (6282), Investors, Nec (6799), Real Estate Agents & Managers (For Others) (6531)
- akta.pro primary industry
- Real Assets — Real Asset Fund Platforms / Multi-Asset Real Assets (Diversified Real Assets Funds) (FSAHAIAM)
- akta.pro secondary industries
- Multi-Asset Solutions for Institutional (Pensions/Endowments/Sovereigns) (FSAAAJAJ), Family Office Investment Platforms & Direct Investing (PE/VC/Co-Invest) (FSAAADAH)
Keywords
Where Manova Partners is headquartered
LocationHeadquarters
- HQ city
- München
- HQ country
- Germany
- HQ region
- Europe
Offices19 records
Markets served
Manova Partners business model
Business model- GTM type
- B2B
- Offering type
- Services
- Cost components
- Personnel, Operations, Marketing or Sales, Infrastructure, Technology or R&D, Others
Revenue model
- Fund Management Fees: Manova Partners generates revenue through management fees from managing commingled funds and separate accounts for institutional investors. The firm operates multiple fund products including Stable Income European Real Estate Fund (SIEREF), Manova European Property Fund (MEPF), and Manova European Logistics Real Estate Fund (MELREF).
- Transaction/Acquisition Fees: Revenue generated from acquisition and disposal activities across the portfolio. The company closed transactions with volume of approximately €409 million in 2024 (€173 million in acquisitions and €206 million in disposals).
- Asset Management Fees: Revenue from active portfolio management including leasing activities - the company let over 172,000 sqm of floor space on new leases in 2024.
Go-to-market motion3 records
Distribution channels4 records
Marketing channels5 records
Manova Partners product offering
Product offeringCore offering
Manova Partners is a real estate investment manager that creates and manages tailored real estate investment solutions for institutional investors and family offices. The firm offers four named commingled funds (SIEREF 1, SIEREF 2, MEPF, MELREF) plus customized separate account mandates, investing across office, logistics, residential, and retail assets in Europe, the US, Latin America, and Australia, with approximately €10.4-12 billion in assets under management.
Product overview
Manova Partners is a real estate investment manager offering a platform of four named fund products alongside separate account investment solutions tailored for institutional investors and family offices. The core product suite includes two SIEREF funds (SIEREF 1 and SIEREF 2) targeting stable-income European office assets, the Manova European Property Fund (MEPF) covering multi-sector European real estate, and the Manova European Logistics Real Estate Fund (MELREF) focused on logistics assets. All products are supported by in-house ESG, Legal, and Tax specialists, and the firm executes across office, logistics, residential, and retail asset classes globally.
Differentiator
Problem solved
Functional benefit
Products and services
- Stable Income European Real Estate Fund – Manova 1 (SIEREF – Manova 1) A commingled fund investing in European real estate, co-managed with MAPFRE, focusing on stable income-generating office assets in prime European locations. Targeted at institutional investors seeking stable, tenanted, income-producing European real estate exposure.
- Stable Income European Real Estate Fund – Manova 2 (SIEREF – Manova 2) A commingled fund investing in European real estate, focused on office assets with ESG compliance and sustainable income characteristics. Target investors are institutional clients seeking stable, ESG-aligned European office exposure.
- Manova European Property Fund (MEPF) A pan-European property fund investing across multiple real estate sectors including logistics, with large-scale lettings such as the 63,000 sqm lease to SEB in France. Designed for institutional investors seeking diversified multi-sector European real estate exposure.
- Manova European Logistics Real Estate Fund (MELREF) A dedicated logistics real estate fund targeting modern Class A logistics properties across European markets, with plans to launch as a new pan-European product. Targeted at institutional investors seeking focused exposure to the European logistics real estate sector.
- Separate Account Mandates Customized separate account investment solutions for institutional investors with specific requirements, such as the separate account that acquired logistics properties in Italy. Allows institutional clients to define geographic, sector, and return targets.
Quantifiable outcome
- Assets under management grew from €9.3 billion (2020) to approximately €11.7 billion (2024), representing ~25% growth
- +6 more outcomes
Companies that use Manova Partners
Customer profileNamed customers10 records
Segments3 records
Ideal customer profiles2 records
Manova Partners technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Manova Partners partnerships and signals
Strategic signalPartnerships
23 partnerships are on record, tiered minor.
- Luas tramminorDublin's light rail system providing connectivity for tenants at One Haddington Buildings - highlights prime location of the asset.
- CBREminorCBRE marketed 60 Park Ave office building in Salt Lake City for sale and facilitated Manova's first acquisition in the Salt Lake City market.
- DilsminorBroker acting for Manova Partners on the acquisition of two logistics properties in Campogalliano near Modena, Italy.
- RYZEminorTechnical due diligence provider for the Campogalliano logistics acquisition in Italy.
- OrrickminorLegal counsel for Manova Partners on the Campogalliano logistics acquisition in Italy.
- EYminorTax advisory on the Campogalliano logistics acquisition in Italy.
- Greenberg Traurig, LLPminorInternational law firm providing legal counsel on the Vibe A acquisition in Warsaw. Part of advisory team including multiple specialist firms.
- Stock + PartnerminorLegal advisory on the Vibe A acquisition in Warsaw.
- CBRE PolandminorCommercial advisory and future property management for Vibe A acquisition in Warsaw.
- Sentient ConsultantsminorTechnical advisory on the Vibe A acquisition in Warsaw.
- CRIDOminorTax advisory on the Vibe A acquisition in Warsaw.
- CBRE BrusselsminorLeasing agents for Brussels office asset Pallars 193 - handling leasing for remaining 2,024 sqm of prime office space after refurbishment.
- JLL LuxembourgminorJLL Luxembourg advised Manova Partners during the sales process for Charlotte office building in Luxembourg CBD.
- Peli PartnersminorLead legal counsel for Manova Partners on the sale of Victoria Center in Bucharest to Solida Capital.
- iOminorCommercial advisory on the Victoria Center sale in Bucharest.
- CMSminorTax and financial advisory on the Victoria Center sale in Bucharest.
- SentientminorTechnical advisory on the Victoria Center sale in Bucharest.
- KinstellarminorLead legal counsel for buyer Solida Capital on Victoria Center acquisition.
- ColliersminorCommercial advisory for buyer Solida Capital on Victoria Center acquisition.
- Ernst & YoungminorFinancial and tax advisory for buyer Solida Capital on Victoria Center acquisition.
- SC Optim Project ManagementminorTechnical advisory for buyer Solida Capital on Victoria Center acquisition.
- Arthur Loyd LogistiqueminorArthur Loyd Logistique, particularly Vincent Blanchet, advised Manova on the 63,000 sqm lease to SEB at XXL LOGISTERRA in France.
- Archers Law FirmminorArchers law firm (Avi Amsellem and Maeva Fauve) advised Manova on the SEB lease transaction in France.
Scale indicators25 records
Recent moves9 records
Expansion highlights5 records
Manova Partners competitors and assessment
Company assessmentBroad incumbents
- Invesco Real Estate: Global real estate investment arm of Invesco managing direct real estate strategies across US, Europe and Asia. Florian Winkle and other senior leaders at Manova previously worked at Invesco, suggesting overlapping DNA and investor base.
- CBRE Investment Management: One of the world's largest real estate investment managers (part of CBRE Group) managing over $140 billion across core, value-add, debt and securities strategies. Competes with Manova for institutional capital with much broader product suite and global distribution.
- Brookfield Asset Management: One of the world's largest alternative asset managers with a substantial global real estate platform across core, value-add, debt and opportunistic strategies. Sets the competitive ceiling on scale, fees and product breadth for mid-sized managers like Manova.
Direct peers
- AEW Capital Management: Boston-based global real estate investment manager with European fund series (AEW Europe) and core/core-plus strategies. Comparable mid-sized platform offering diversified and sector-specific vehicles to institutional clients across multiple geographies.
- Deka Immobilien: German-headquartered real estate investment manager and subsidiary of DekaBank, managing open-ended real estate funds with significant European office and logistics exposure. Comparable institutional manager competing in similar European markets.
- Patrizia: European-headquartered (Augsburg, Germany) real estate investment manager with similar institutional client base and multi-sector European focus. Direct geographic and strategic competitor, especially in German-speaking markets and CEE.
- Union Investment Real Estate: German-headquartered real estate investment manager and part of Union Investment Group, managing open-ended real estate funds primarily for European institutional and retail investors. Competes in similar European office, logistics and mixed-use strategies.
- LaSalle Investment Management: Global real estate investment manager (JLL subsidiary) operating multiple commingled funds and separate account mandates across Europe, US and Asia. Closest comparable in business model — multi-strategy fund platform serving institutional LPs with similar product breadth.
- Heitman: Chicago-headquartered global real estate investment manager with significant European presence and multi-strategy funds serving institutional investors. Comparable private mid-sized boutique with similar geographic and product footprint.
Emerging players
- Norges Bank Investment Management (NBIM Real Estate): Sovereign wealth fund real estate arm managing direct global property investments across major gateway cities. While primarily a principal investor rather than external manager, sets benchmarks for institutional real estate allocation and competes indirectly for European core assets.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat5 records
Key risks2 records
Key highlights7 records
Customer concentration
Manova Partners social profiles
Digital presenceManova Partners compliance and trust
Trust signalCompliance14 records
Manova Partners financial estimates
Financial estimateRevenue estimate
Valuation estimate
Manova Partners leadership team
Management profileNumber of profiles
Profiles9 records
Manova Partners funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Manova Partners M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Manova Partners
What does Manova Partners do?
Manova Partners is a real estate investment manager that creates and manages tailored real estate investment solutions for institutional investors and family offices. The firm offers four named commingled funds (SIEREF 1, SIEREF 2, MEPF, MELREF) plus customized separate account mandates, investing across office, logistics, residential, and retail assets in Europe, the US, Latin America, and Australia, with approximately €10.4-12 billion in assets under management.
Is Manova Partners a public or private company?
Manova Partners is a private company. It is classified as management employee owned and is currently operating.
When was Manova Partners founded?
Manova Partners was founded in 2000. It employs 101 to 250 people.
Where is Manova Partners based?
Manova Partners is headquartered in München, Germany, in the Europe region.
How does Manova Partners make money?
Three revenue lines are on record. Fund Management Fees are the primary driver. The others are transaction/Acquisition Fees and asset Management Fees.
Who are Manova Partners's main competitors?
Broad incumbents on record are Invesco Real Estate, CBRE Investment Management and Brookfield Asset Management. Direct peers are AEW Capital Management, Deka Immobilien, Patrizia, Union Investment Real Estate, LaSalle Investment Management and Heitman. Norges Bank Investment Management (NBIM Real Estate) is listed as an emerging player.
Does Manova Partners have an API?
No public API is recorded for Manova Partners.
What industry is Manova Partners in?
Manova Partners's product category is Real Estate Investment Management. Its primary akta.pro industry code is FSAHAIAM, Real Assets — Real Asset Fund Platforms / Multi-Asset Real Assets (Diversified Real Assets Funds), with a secondary code of FSAAAJAJ, Multi-Asset Solutions for Institutional (Pensions/Endowments/Sovereigns). Its NAICS code is 5259 and its SIC code is 6282.