European non-listed lobby organisation INREV has appointed Neil Harris, senior vice-president at Singapore's GIC Real Estate International, as its new chairman.
It marks the first time the post has been filled by a representative of a sovereign wealth fund rather than an institutional investor.
Harris, a qualified chartered surveyor with more than 30 years' experience in European real estate, takes over from Patrick Kanters, who has served the maximum of two three-year terms. Noel Manns, principal at Europa Capital, is also stepping down from the management board after six years.
Isabella Soemama, head of funds group at AXA Investment Managers – Real Assets and CEO of AXA REIM SGP, and Guido Verhoef, head of private real estate at PGGM, have been appointed to the management board.
Matthias Thomas, INREV CEO, said: 'Neil, Isabelle and Guido all bring a fantastic range of knowledge and experience to their new roles and we're delighted to have them on board.'
INREV, the European Association for Investors in Non-listed Real Estate Vehicles, was launched in May 2003 to act for investors and other participants in the growing non-listed real estate investment. Based in Amsterdam, it currently has 383 members drawn from leading institutional investors, fund managers, banks and advisors across Europe and elsewhere.
