Cordea Savills’ new French boss targets Benelux expansion

Cordea Savills’ new head of investment in France, Clement Pigott, aims to boost the fund manager’s presence in the country and use its Paris office as a springboard for expansion in the Benelux.

In an interview with PropertyEU, Pigott, who joined the firm in March, said he would seek growth through fund raising, acquisitions for existing funds and asset management, ‘which is particularly important at the current stage of the cycle’, he said.

‘We are seeking organic growth, but we don’t rule out takeovers like in Germany, where Cordea Savills has expanded by acquiring local asset manager IPAM,’ he said.

Pigott, who is also president of the newly established French entity, Cordea Savills SAS, said the firm would target French as well as foreign investors based in France in its drive to raise funds. ‘We are targeting equity of EUR 150 to EUR 300 mln from institutional investors who we believe will remain focused on real estate.’

Cordea Savills has assets under management of EUR 3.9 bn across five countries. In the Benelux, Cordea Savills currently has five assets in the Netherlands, one in Belgium but none in Luxembourg.

Read the full interview with Clement Pigott in the June edition of PropertyEU Magazine. Click on the link below to subscribe