German real estate fund manager IVG is preparing to put itself up for sale.
The company is close to appointing investment bank Lazard to advise on the sale process, which comes after a turbulent restructuring.
The company completed a €1.5bn (£1.1bn) restructuring last October with Deutsche Bank following its take-private by Cerberus Capital, Marathon asset management, Apollo and Davidson Kempner, which had previously bought its debt.
The business still has €10.1bn of assets under management and has achieved some capital raising in recent months, some of which helped fund the acquisition of the €480m EuroTower in April this year.
The sale will come alongside the spinning off of €3bn of property assets that the fund identified earlier this year.
