Sophie van Oosterom is to leave Schroders to head up global real estate investments at Canada Pension Plan Investment Board (CPP Investments).
Van Oosterom, who has been global head of real estate at Schroders since 2021, will be replaced by head of UK real estate Nick Montgomery.
CPP Investments, a C$646bn (€428bn) Canadian pension fund with C$45.5bn in real estate assets, has been searching for a replacement for a new global head of real estate after the departure of Peter Ballon earlier this year.
According to a source close to the matter, Schroders is working on a transition plan ahead of van Oosterom’s move.
Georg Wunderlin, global head of private assets at Schroders Capital, said: “I extend my deep gratitude to Sophie for her commitment to the business. It has been a pleasure to work with her and I wish her every success as she embarks on a new role on the client side.”
Schroders Capital said US$27.9bn (€25bn) of its US$97.3bn in assets under management were in real estate and that the aset class was “a strategically important growth area”.
Montgomery has been at Schroders for 12 years and has overseen the growth of the UK business, including the launch of Schroders Capital’s Real Estate Impact Fund.
Roger Hennig, who has been leading the real estate in Switzerland, will become head of continental Europe, based in Zurich.
Kieran Farrelly will also become global CIO for Real Estate in addition to his existing solutions responsibilities, and James Macnamara will assume global responsibility for value-add and alternatives investments, building on his current focus as head of strategy, hotels and operating assets.
Montgomery said: “I am privileged to take on this role and excited at the prospect of leading Schroders Capital Real Estate, a business with a 50-year history.
“Alongside the senior promotions announced today, we have a fantastic global team who are fully dedicated to delivering investment excellence and outperformance for clients.
“These changes also coincide with a cyclical recovery in many real estate markets, which provides a supportive backdrop for growing this strategically important part of Schroders Capital. I look forward to working with Sophie to ensure an orderly transition.”
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