German Pension BVK Faces Fresh Scrutiny Over Shvo Investments
The German pension fund Bayerische Versorgungskammer (BVK) is facing renewed scrutiny over its investments in properties tied to the embattled developer Michael Shvo and his company SHVO Capital. BVK had funneled hundreds of millions of euros into US properties associated with Shvo, who has faced legal issues in the past. Local lawmakers in Germany are now examining these investments, raising concerns about the fund's due diligence and risk management practices. The scrutiny comes at a time when the real estate market, particularly in the US, has faced challenges, and investors are closely monitoring the performance of their investments. The outcome of this investigation could have significant implications for BVK and its investment strategies going forward.
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