The European Association for Investors in Non-listed Real Estate Vehicles (INREV) has appointed two new members to its Management Board.
The European Association for Investors in Non-listed Real Estate Vehicles (INREV) has appointed two new members to its Management Board.
Udo Schaffer, vice president and head of portfolio management real estate at power company E.ON, and Erwin Stouthamer, managing director and founder of Composition Capital Partners, were formally inaugurated at the INREV annual conference in Vienna this week.
INREV said that the appointments reflect the current makeup of the non-listed real estate market in terms of size and variety of participants, which includes investors, fund managers, and fund of funds managers.
E.ON is one of Europe's largest utility companies with a significant allocation to non-listed real estate funds on a global level, while Composition Capital Partners is a 'boutique' funds of funds.
INREV also announced the appointment of Patrick Kanters as INREV chairman. Kanters is managing director global real estate at APG Asset Management.
Michael Morgenroth, management board member at Signa Holding, who steps down as chairman, will remain on the board.
Matthias Stürmer, former co-head of real estate investments at Capital Dynamics, Germany, and Raymond Jacobs, managing director of Franklin Templeton Real Estate Advisors, US, both stepped down from the management board. Jacobs had served his maximum term, while Stürmer leaves following his move to Duranium Real Estate, Germany.
Deborah Lloyd from Nabarro and Jeff Jacobson from La Salle Investment Management were re-elected to continue a second three-year term on the board.
