M&G Investments' real estate arm M&G Real Estate has appointed Olivier Vellay as new head of investment for Continental Europe.

M&G Investments' real estate arm M&G Real Estate has appointed Olivier Vellay as new head of investment for Continental Europe.

Vellay comes from Quarters Capital, where as founder he advised major private equity funds on investment in France. Previously, he worked at MPGA, Morgan Stanley and GE Real Estate.

'With increasing demand from local and foreign parties for property in continental Europe we have raised a significant amount of new capital for our European real estate products. Olivier Vellay will use his vast experience to invest this capital wisely,' said Stefan Cornelissen, head of institutional business at M&G in the Netherlands.

Recent transactions by M&G Real Estate in mainland Europe include the purchase of a 35,000 m2 office tower in the business district of Madrid for €175 mln. The group has carried out five Investments in continental Europe since March.