UK-based asset manager M&G has announced the appointment of Simon Ellis as manager of the €4.5bn (£3.8bn) M&G European Property Fund.
This follows David Jackson’s decision to retire after 43 years with M&G, who has been instrumental in launching the strategy over 20 years ago.
It will also mean that Marc Reijnen, who currently leads M&G’s continental European real estate investment and asset management teams, now assumes overall responsibility for the leadership and strategic direction of the European (ex UK) platform, which includes a 30-strong team in 6 European offices, and invests across all sectors in 12 countries.
With ESG credentials and exposure to 12 European markets, the M&G European Property Fund is tilted towards high quality assets in western and northern Europe across all key sectors.
Over the past two decades, the European property market has emerged as a popular destination for global institutional investors.
Sectors such as residential, logistics and commercial spaces with strong sustainability credentials can continue to drive investment returns, said M&G.
M&G’s real estate team is part of the firm’s wider £74bn private markets business – a potential strong growth area as institutional investors are set to increase their real asset allocations and changes in the industry enable greater investor participation in these asset classes.
Martin Towns, deputy head of M&G real estate, said: “Simon has proved himself as an astute investor and, with the strength of our continental European platform, is well placed to lead the fund into the next stage of its growth.”
And Towns added: “Investors are taking a closer look at the potential investment opportunity this market has to offer, with renewed interest in the growth potential of European economies.”
David Jackson added: “It has been a privilege to have such a fulfilling career in the real estate industry.”
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