# DERECO

DERECO is a Multi Family Office based in Cologne, Germany.

## Overview

- **Organization type:** Multi Family Office
- **Headquarters:** Cologne, Germany
- **Region:** Europe
- **Address:** Cologne, Germany
- **Founded:** 1993
- **Assets under management:** 1500 (Altss estimate)
- **Website:** dereco.de
- **LinkedIn:** https://www.linkedin.com/company/dereco

## Regulatory record

- **Reports private funds:** No

## About

DERECO was established in 1993 by Tassu Degen in Cologne. It functions as a multi-family office serving other single-family offices with fiduciary real-estate mandates confined to Germany. The firm deploys capital across core, core-plus, value-add, and development strategies. Asset classes include residential, hotels, offices, and mixed-use properties executed through direct co-investments and SPVs. Confirmed positions include the SHED commercial development in Berlin-Neukölln with KLINGSÖHR, the behome micro-apartment project in Dortmund sold to Catella Residential Investment Management, and the Hampton by Hilton hotel in Kiel developed with Hilton. Activity remains limited to Germany and adjacent European cross-border transactions when required by German mandates. The firm maintains a team of investment and asset-management professionals in Cologne. It holds no disclosed additional offices. Recent operational moves include the May 2023 hiring of two senior asset managers. Adjacent vehicles are limited to the subsidiary DERECO Capital Solutions GmbH for real-estate finance. DERECO structures mandates as separate accounts rather than commingled funds, allowing each client family direct ownership of underlying properties and tailored exit timing. This account-based model distinguishes it from typical fund-of-funds or club platforms in the German real-estate market.

## Sectors

- Real Estate
- PropTech
- Healthcare Services

## People

- Tassu Degen — Managing Partner
- David Noll — Chief Investment Officer
- Sonia Pezzotta — Member of the management board
- Jörg Kohlhaus — Head of Real Estate Asset Management

## Questions

### Who runs investment decisions at DERECO?

Tassu Degen serves as Managing Partner. David Noll acts as Chief Investment Officer. Sonia Pezzotta and additional board members participate in management decisions.

### How does DERECO source proprietary deal flow?

The firm relies on long-standing joint-venture relationships with developers such as REVITALIS Real Estate AG and KLINGSÖHR Unternehmensgruppe. It also maintains direct seller contacts across German residential and hotel markets.

### Is DERECO structured as a single family office or does it operate more like a venture firm?

DERECO operates as a multi-family office. It manages separate accounts for multiple single-family office clients rather than deploying a single proprietary balance sheet.

### Does DERECO participate in fund commitments or only direct deals?

The firm executes only direct co-investments and SPVs. It does not make commitments to third-party real-estate funds.

### What investment stages does DERECO typically target?

Mandates cover core, core-plus, value-add, and development stages within German real estate.

### Where does the underlying wealth come from?

The firm does not disclose the origin of client capital. It serves unnamed single-family offices and at least one Dutch entrepreneurial family through a managed real-estate fund.

### What is DERECO's known posture on co-investments alongside external GPs?

DERECO structures transactions as direct co-investments or joint ventures with local developers and operators. It does not invest alongside external real-estate fund managers.

## Related profiles

- [Fides Family Office](https://altss.com/profile/fides-family-office)
- [The Rosewood Corporation](https://altss.com/profile/the-rosewood-corporation)

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Last updated: 2026-06-03T20:00:00.000Z

Canonical page: https://altss.com/profile/dereco

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