Valad makes appointments to European executive

Pan-European multi-let investment manager Valad Property Group has announced two new appointments to its European executive. Michael Bruhn, head of Valad Nordic, and Klaus Kortebein, head of Valad Germany, join CEO Marty McCarthy, COO Christian Bearman, CFO Fraser Kennedy and group head of funds management, David Kirkby on the European executive, with joint responsibility for shaping the group's European strategy and operations.

Valad said the appointments signal its commitment to its EUR 4.7 bn European platform and the importance of Germany and the Nordic region where it has over 40% of its European assets under management. Valad has 14 funds in its European platform with continental Europe accounting for over 70% of total funds under management.

Valad was also recently awarded the EUR 250 mln European Commercial Real Estate investment management mandate which largely comprises portfolios in both regions and demonstrates the value that its investors and banking partners place on multi jurisdictional capabilities in assessing the optimal solutions for their portfolio needs.

Bruhn, who is based in Copenhagen, has been running Valad’s Nordic operations for nine years. The operations encompass six offices and 50 staff in Denmark, Sweden and Finland and over EUR 1.2 bn in assets under management. Bruhn has over 20 years experience in the region as a developer, agent and asset manager. Prior to joining Valad, he was a senior partner with DTZ after merging his previous company with the agency business.

Kortebein joined Valad in 2007 as head of Germany working from Valad's Berlin and Frankfurt offices. He was previously with Morgan Stanley Real Estate where he was the chief investment officer. He also has more than 15 years senior fund and asset management experience at a number of leading German institutions including MEAG (Munich Re) and DEKA Immobilien. Valad has four offices in Germany with 30 staff managing over EUR 1 bn of assets.