La Française buys into Middle Eastern advisory firm

French asset manager La Française is acquiring a 35% stake in a Paris-based real estate advisory firm targeting Middle Eastern investors.

La Française's investment in Parisian Real Estate Advisor is the first partnership for NEXT Advisor, which La Française founded in April 2013 to support independent distribution players in France.

Parisian Real Estate Advisor specialises in real estate investment management for Middle Eastern investors. The recently founded company is the brainchild of Jean-Philippe Besse, a former employee of La Française where he spent more than 12 years as head of international business development.

NEXT Advisor's equity investment is also based on an operational agreement between Parisian Real Estate Advisor and La Française REM in order to provide Middle Eastern investors with a range of services in the French market.

Patrick Rivière, managing director of La Française, said: 'This real estate partnership complements our international development offering for the Middle East region and provides international investors with access to our expertise in the French market that we have built over more than 35 years.'

'The Middle East requires specialist know-how which Parisian Real Estate Advisor will provide, enabling us to answer the specific needs of investors from this region,' he added.