US-based Principal Global Investors has won a €150 million mandate from German pension fund Bayerische Versorgungskammer (BVK) to invest in real estate investment trusts.

The move is part of BVK’s plans to expand its global presence.

The mandate will further boost its real estate exposure and also participate in the expansion of the real estate investment trust sector.

Additionally, the mandate will enable Principal Global Investors to further stregthen its presence in the German market.

A spokesperson for Principal Global Investors said: "Clients of our REIT portfolios e.g. not only profit from our long standing real estate expertise but can also build on our solid equity research as well as global research platform."