The goal of INREV’s Investor Platform is to unite investors in a combined effort to improve the non-listed real estate funds industry. The Investor Advisory Council is a group within the Investor Platform that advises the CEO on current issues affecting the industry in Europe. This helps improve the quality and standards of non-listed real estate funds, making them more attractive to global investors. INREV also holds several investor only events where investor members can discuss and address issues openly and honestly, without any potential conflicts of interest.
The investor platform is confined to INREV’s investor members, whose role it is to invest directly in non-listed real estate vehicles on their own account or for their clients, such as pension funds, insurers, sovereign wealth funds, investment managers, multi managers and fund of funds managers, plus any other organisation or division of an organisation approved by INREV.
Investor Advisory Council
The investor advisory council acts on behalf of all investor members and introduces new ideas to INREV, as well as new initiatives that will benefit all members. One of the aims of the advisory council is to increase participation by investors in the activities of INREV, so that we truly represent all investors. The council has a rotating membership and currently includes the following members:
|Catriona Allen||Aviva Investors Real Estate Multi Manager||United Kingdom|
|Guido Verhoef||PGGM||The Netherlands|
|Ian Gleeson||CBRE GIP Holding BV||United Kingdom|
|Ilkka Tomperi||Varma Mutual Pension Insurance Company||Finland|
|Klas Åkerbäck||Tredje AP-fonden||Sweden|
|Marco Plazzotta||Poste Vita||Italy|
|Marieke van Kamp||NN Group||The Netherlands|
|Martin Lemke||AM alpha||Germany|
|Raymond Jacobs||Franklin Templeton||USA|
|Patrick Kanters||APG Asset Management||The Netherlands|
Who qualifies as an investor member?
Investor Members shall include investors whose role it is to invest directly in non-listed real estate vehicles on their own account or for their clients to include:
- Pension Funds
- Insurance Companies
- Sovereign Wealth Funds
- Investment Managers
- Multi Managers and Fund of Fund managers
- Any other organisation approved by INREV in its absolute discretion
An Investor Member may be an organisation or a division of a broader organisation, whose investor function can be demonstrated to be organisationally separate from any fund management, advisory, capital raising or other activities that could potentially give rise to a conflict of interest with other INREV Investor Members. In the case of an INREV Fund Manager Member engaged in investment as well as in fund management wishing to join the Investor Platform, the investor organisation would need to have a separate Investor Membership from its Fund Manager Membership in order to qualify as an Investor Member of the Investor Platform.
A Fund Manager Member may send qualifying investor delegates (see below) from their Multi Manager or Fund of Fund Manager divisions to Investor Only Events, but may not join the Investor Platform without having a separate Investor Membership for its investment division. However, an Investor Membership (say by a Multi Manager or Fund of Fund Manager) does not entitle that organization to send delegates to Fund Manager Only Events.
Any delegate appointed by the Fund Manager or Investor Member organisation to participate in the Investor Platform and/or Investor Only Events may be required to self-certify (and provide evidence to INREV, if required) that their principle role is that of an investor and that they are organisationally separate from any fund management or equity raising activity.
INREV may choose to organise individual events for its members based on the type of investor organisation, i.e. for multi managers, fund of funds managers or other investors.
Organisation A is carrying out organisationally separate fund management activities within its subsidiary AA and organisationally separate fund of funds management activities in its subsidiary AB.
Case 1 – Organisation A applies for INREV membership, it will be regarded as a fund manager; staff of subsidiary AA may participate in events of the Fund Manager Forum, while investor staff of subsidiary AB may participate in Investor Only events, but will not qualify for membership in the Investor Platform.
Case 2 – Organisation AA applies for INREV membership, it will be regarded as a fund manager; staff of organisation AA may participate in events of the Fund Manager Forum, while investor staff of organisation AB may participate in Investor Only events, but will not qualify for membership in the Investor Platform.
Case 3 - Organisation AB applies for INREV membership. If AB wants to be regarded as investor member and join the Investor Platform, and organization AA does not have Fund Manager Membership, staff of organisation AA may not participate as member representatives in events of the Fund Manager Forum.. Only staff of organisation AB may participate in Investor Only events.
Case 4 - Organisation AA and AB apply for separate INREV memberships. AA will be regarded as a fund manager; staff of organisation AA may participate as member representatives in events of the Fund Manager Forum. AB will be regarded as an investor member, which can join the Investor Platform. Only staff of organisation AB may participate in Investor Only events.