Association Board broadens expertise and pinpoints strategic priorities
03 April 2019, Venice – Ray Adderley from Nuveen Real Estate has joined the INREV Management Board. The appointment was confirmed at INREV’s Annual General Meeting in Venice and is effective immediately.
Adderley is Head of Performance and Investment Process at Nuveen Real Estate. He has 20 years’ experience of data-driven investment processes and consistent performance measurement methodology, globally. His expertise will be a valuable addition to the INREV Management Board as the association pursues its strategic objectives focused on market trends, such as big data, technology, the changing investor landscape and globalisation of capital flow.
In particular, Adderley’s deep knowledge of performance measurement will significantly benefit INREV’s drive to improve European and global insights through the ongoing refinement and expansion of its suite of proprietary indices. There are currently 10 INREV indices, including the three most recent additions – Asset Level Index, IRR Index and European ODCE Fund Index.
Previously, Adderley was Chair of the INREV Performance Measurement Committee. He is currently Co-Chair of the Global Performance measurement Taskforce – part of the Global Standards initiative co-sponsored by INREV, ANREV, NCREIF and PREA.
In other changes, Wenzel Hoberg, and Allan Mikkelsen will step down from the INREV Management Board, having served their maximum terms. Isabelle Scemama, CEO of AXA IM, will take over from Hoberg as Vice Chair; while Michael Hornby, Partner at EY, becomes Treasurer in place of Mikkelsen.
INREV has also announced three key senior management team promotions, which coincide with its focus on implementing the business plan. Constantin Sorlescu becomes the new Director of Professional Standards. He will lead the creation of harmonised industry standards and expand guidance on the evolving structures in non-listed real estate. Hedda Hollander has been promoted to Director of Events and Education, with responsibility for expanding access to member education through projects such as the e-learning platform in addition to her ongoing oversight of INREV’s extensive events programme. Johlyn da Prato is the new Director of Marketing and Communication. She will further increase awareness of INREV and its unique breadth of member services in and outside of Europe.
Commenting on the Management Board changes and team promotions, Marieke van Kamp, INREV Chairman and Head of Private Markets at NN Group, said: ‘It’s great to welcome Ray to the Management Board. His experience will be invaluable. And we congratulate, Constantin, Hedda and Johlyn whose collective talents will help to ensure that INREV can deliver the strategic priorities we have set ourselves and continue to support our members through the industry’s next phase of evolution.
‘We also say a huge thank you to Allan and Wenzel for their significant contributions to the Management Board over the past six years, and their steadfast commitment to INREV and the industry as a whole.’
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Notes to Editors
INREV, the European Association for Investors in Non-Listed Real Estate Vehicles, was launched in May 2003 as a forum for investors and other participants in the growing non-listed real estate vehicles sector. The association represents and reflects an industry with a total value of €2.7 trillion and INREV members deliver €385 billion of stimulus to the real economy of Europe.
INREV has 456 members which include 82 of the largest institutional investors as well as 40 of the 50 largest real estate fund managers, plus banks and advisors across Europe and elsewhere.
The non-profit association is focused on increasing the transparency and accessibility of non-listed vehicles, promoting professionalism and best practice, and sharing knowledge. It is based in Amsterdam, the Netherlands.