Aberdeen Property Investors enters French Market (FR)

Aberdeen Property Investors, one of Europes leading property investment managers with over €8 billion in property investments across Europe, is establishing a presence in France in line with its European growth strategy. Aberdeen has appointed Mr Jacques Yves Nicol as Managing Director of its new French business.

Mr Jacques-Yves Nicol will start in his position as Managing Director on 18 April 2006. Mr Nicol was previously Managing Director, France, at Tishman Speyer where he headed up their real estate business. Mr Nicol has had a long career in the international finance and banking industry with senior positions held at AIG, AXA, Bouygues and Bank of America.

Ubbe Strihagen, International Director of Aberdeen Property Investors, commented:
France is a key market given its size as one of Europes largest markets. There is also growing interest from investors in Europe looking for cross border property investments. I see Aberdeens move into France as an important step in our ambition to be the leading property asset management company in Europe.

Rickard Backlund, CEO of Aberdeen Property Investors, commented:
Jacques-Yves will head our operation in the French market. We believe the French property market has strong investment and business potential which requires prominent local management. We also believe in increased international diversification and cross-border investments both for French and international investors.

Jacques-Yves Nicol, Managing Director, Aberdeen Property Investors France, commented:
We will seek investment opportunities in the French market for our funds and international investors. We will also aim to build relationships with major French institutional investors for cross-border investments through real estate funds as part of Aberdeens European expansion strategy.

Aberdeen will look to play a major role in the development of the property asset management industry in France by increasing the number of funds available and through the future OPCI developments.
Such developments will provide a better base for the expansion of our international property funds. We see property funds becoming an even more important part of the portfolio of institutional investors.

Source: Aberdeen Property Investors

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