Aberdeen Property Investors (API) has announced the recruitment of a seven-strong property investment management team from Credit Suisse Asset Management, led by Glenn Newson. Glenn will join API as head of Property Asset Management in the UK.
The team will further strengthen API's existing UK property business. Their excellent track record will enable API to enhance its service to segregated clients and assist in preparation for the planned launch of its first UK fund. A UK offering is a natural progression for API, building on its existing product range of European single-country funds (Denmark, Finland, Norway and Sweden), regional and sector funds. The Fund will be marketed to institutional investors both in the UK and overseas.
Rickard Backlund, Chief Executive Officer of Aberdeen Property Investors, said: "We are delighted to have secured such an experienced and highly regarded team. The establishment of a UK fund will complement our existing product range and should attract interest from existing UK and overseas clients as well as institutional investors generally."