Methodology

Bergson is an opportunistic equity investor in metropolitan areas, focused on structural above-average growth patterns inherent in traditional assets in gentrifying sub-markets as well as in alternative assets. Bergson’s specific expertise lies in creating risk-return asymmetries in German real estate: proprietary origination, creativity, downside protection and alpha generation, all the while dissecting complexity through rigorous analysis. Bergson’s investment strategies follow themes such as concealed asset quality, temporary illiquidity, urban infilling, niche-to-mainstream, or yield for complexity. This is applied across real estate asset classes and the value-add/opportunistic and core/core+ risk spectrums to build asymmetric risk-return profiles for enhanced cyclicality.

Key investment principles

  • Identification of sub-markets & assets underpinned by favorable fundamental trends as well as structural shifts

  • Definition of robust, particular-angle investment theses

  • Focus on attractive going-in pricing (discount to replacement cost) & downside protection

  • Use of superior pricing insights, market inefficiencies & arbitrage opportunities

  • Execution of transformational business plans (alpha) with trusted asset management platform

  • Preparation of asset for longer-term capital value appreciation & exit optionality

  • > Creation of asymmetric risk-return profiles

Investment Strategies

At present, Bergson pursues the following distinct strategies on behalf
of different institutional and professional private investors:

“Niche-to-Mainstream”


  • Traditional assets in gentrifying markets & alternative asset types

  • Roll-up of individual assets & execution of value-add business plan

  • Institutionalization of investment product through size & branding

“Special Situations”


  • Idiosyncratic, asset class-agnostic opportunities across the capital structure

  • Resolution of complexity caused by opaqueness, distress or liquidity issues

  • Creation of institutional assets, structures & situations