Patrizia has hired Amal Del Monaco from AXA IM Alts to replace Rikke Lykke as its new European head of asset management.

Del Monaco’s most recent roles at AXA IM Alts included global head of living and head of asset management sector specialists. She spent the last 24 years at AXA IM Alts.

Patrizia said Del Monaco, based in Paris, will be responsible for leading asset management across the firm’s pan-European portfolio and will chair the company’s group of European country heads.

Reporting to Anne Kavanagh, Patrizia management board member and global CIO, Del Monaco will work alongside Patrizia’s European CIO, Philipp Schaper, who leads fund management and transactions.

Kavanagh said Del Monaco will be responsible for developing future-proof, long-term asset management strategies for all Patrizia’s assets.

“This is crucial to meet the increasing expectations of our clients in making a positive environmental and social impact, whilst delivering stable financial returns. She will also lead our best-practice sharing approach and continue to manage collaboration among all European country heads.”

Del Monaco said: “I am very much looking forward to joining Patrizia at a time when, more than ever, we rely heavily on active asset management to embrace innovation, tackle financial, environmental and social constraints or opportunities to deliver sustainable value for tenants and clients.

“I am also thrilled to bring my real asset expertise, cross-border experience and all my enthusiasm to Patrizia at a time when the company is broadening its portfolio and moving beyond real estate into becoming a leading partner for global real assets.”

Patrizia said Lykke will leave the company in July to take up a new senior leadership role in the industry. Lykke joined Patrizia in 2012 as managing director and head of the Nordic region.

Kavanagh said Lykke achieved many milestones during her time with Patrizia, including the integration of three major companies Patrizia acquired.

“She played a key role in helping Patrizia become a leading independent investment manager across Europe with international reach. And her leadership in successfully managing our tenant relationships and assets, especially during the Covid-19 pandemic, was outstanding.”

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