Corestate loses key fund mandate

Corestate Capital has lost the management of its flagship German fund to Tristan Capital Partners at the request of investors including Partners Group and CBRE Global Investors.

Tristan took on Corestate’s Ralf Nocker to continue managing the €285m German Property Performance Partnership fund as London-based managing director. Nocker is also responsible for a new Düsseldorf office.

Corestate’s chief executive Phillip Burns left the company earlier this year and founder Ralph Winter has abandoned fund raising for club deals. He has since hired Oliver Zimper and Steffen Ricken from IVG.