TOP BROKERS: BNP Paribas RE banks on investment management

BNP Paribas Real Estate is seeking to bolster its investment management division, the company’s CEO Thierry Laroue-Pont told PropertyEU in an interview.

‘In the past few years, we have more than doubled our assets under management from €9.7 bn to €20.3 bn. But we want to go to €30 bn.’ Organic growth is a priority, but Laroue-Pont is not ruling out acquisitions. ‘We are trying to move the barriers and our frontiers. The expansion of our leasing management services and outsourcing for big corporate clients is another major initiative we’re working on.’

Laroue-Pont claims there are ‘lots of synergies’ between the Paris-based company’s leasing, investment and property management activities as well as its development arm. There are risks associated with development and transaction activities, but these have been minimised, he argued. ‘Roughly 40% of our income is recurring income, from consulting services, valuation, property management and investment management. The non-recurring business like investment transactions and development account for the remainder.’

Thanks to its development arm, the company has access to opportunities that are not in the market, to create value, streamline and stabilise new assets, Laroue-Pont said. ‘None of our competitors can offer that. Many of the global investors we work with like our off-market approach as they prefer not to get into a bidding competition.’ Earlier this year, the company advised Abu Dhabi’s ADIA on the acquisition of the Ecowest office scheme in Paris.