INREV, the European Association for Investors in Non-listed Real Estate Vehicles, has appointed two new members to its Management Board.
Udo Schaffer, Vice President and Head of Portfolio Management Real Estate, E.ON AG and Erwin Stouthamer, Managing Director and Founder, Composition Capital Partners were formally inaugurated at the INREV AGM in Vienna on Tuesday April 24, 2012.
The new appointments reflect the current makeup of the non-listed real estate market in terms of size and variety of participants, which includes investors, fund managers, and fund of funds managers and further supports INREV's strategic priority of being a representative of the constantly evolving industry.
E.ON AG is one of Europe's largest utility companies with a large allocation to non-listed real estate funds on a global level and Composition Capital Partners is a 'boutique' funds of funds. The combined knowledge and expertise of Schaffer and Stouthamer will be of great benefit to INREV as it continues to address the challenges and changes facing the industry.
INREV is meeting these challenges particularly through its strategic priorities for the year, which are to:
Maintain a preeminent position in the non-listed real estate investment industry in Europe and ensure INREV attracts and retains leading participants
Develop an interregional research program and promote global standardisation and best practice
Deepen and broaden INREV's remit to cover an expanded range of non-listed products for investing in real estate.
Other changes to the Management Board announced at the AGM, include the appointment of Patrick Kanters as INREV Chairman. Kanters is Managing Director Global Real Estate at APG Asset Management.
Michael Morgenroth, Management Board Member at Signa Holding GmbH, who steps down as Chairman, will remain on the Board.
Matthias Stürmer, former Co-Head of Real Estate Investments at Capital Dynamics AG, Germany, and Raymond Jacobs, Managing Director, Franklin Templeton, Real Estate Advisors, USA have both stepped down from the Board. Jacobs has served his maximum term, while Stürmer leaves following his move to Duranium Real Estate GmbH, Germany.
Deborah Lloyd from Nabarro LLP and Jeff Jacobson from LaSalle Investment Management have been re-elected to continue a second three-year term on the Board.
Matthias Thomas, Chief Executive, INREV, commented: "This year's appointments reinforce our commitment to the industry and our members and the need for a true representation of today's market we are delighted to have Udo and Erwin join us and also look forward to welcoming Patrick as our new Chairman. We would like to thank Matthias and Raymond for their dedication and hard work for INREV and its members."
Source: Firstlight PR