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Investor Platform & Advisory Council

The goal of INREV’s Investor Platform is to unite investors in a combined effort to improve the non-listed real estate investment 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 vehicles, 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.

Investor platform

The Investor Platform is open exclusively to INREV investor members who invest directly in non-listed real estate vehicles – either 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, as well as any other organisation or division of an organisation approved by the INREV Mangement Board.


Investor advisory council

The Investor Advisory Council introduces new ideas and initiatives to INREV for the benefit of all members. One of the council’s aims is to increase participation in INREV’s activities by investors, so that we better represent all investors needs. The council has a rotating membership, and currently includes the following members:

Members Company Country
Martin Lemke (Chair) AM alpha Germany
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
Patrick Kanters APG Asset Management The Netherlands
Raymond Jacobs Franklin Templeton USA

Who qualifies as an investor member?

Investor members include investors whose role is to invest directly in non-listed real estate vehicles – either on their own account or for their clients – including in:

  • Pension funds
  • Insurance companies
  • Sovereign wealth funds
  • Investment managers
  • Multi managers and fund of funds managers
  • Any other organisation approved by INREV

 

Join INREV as an Investor Member
 

An investor member may be an organisation or a division of a broader organisation. INREV sometimes organises individual events for its members that are specific to the type of investor organisation – e.g. for multi managers, fund of funds managers or other investors. There are certain criteria that apply for investor membership:

 

An investor member’s function must be organisationally separate from any fund management, advisory, capital raising or other activities that could potentially cause a conflict of interest with other INREV investor members.

Any delegate appointed by the fund manager or investor member organisation to participate in the Investor Platform and/or investor-only events may be asked to certify and provide evidence that their main role is as an investor, and that they are organisationally separate from any fund management or equity raising activity.

If an INREV fund manager member deals with both investment and fund management and wants to join the Investor Platform, the investor organisation would need an investor membership separate from its fund manager membership to qualify as an investor member of the Investor Platform.

A fund manager member may send qualifying investor delegates from their multi manager or fund of funds manager divisions to investor-only events, but may not join the Investor Platform without having a separate investor membership for their investment division. (However, an investor membership – for example, by a multi manager or fund of funds manager – does not entitle that organization to send delegates to fund manager-only events.)


How does it work in practice?

Let’s look at a hypothetical example: 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 is regarded as a fund manager. Employees of subsidiary AA may participate in Fund Manager Forum events, while investor staff of subsidiary AB may participate in investor-only events, but do not qualify for membership of the Investor Platform.

Case 2

Subsidiary AA applies for INREV membership; it is regarded as a fund manager. Employees of subsidiary AA may participate in Fund Manager Forum events, while investor staff of subsidiary AB may participate in investor-only events, but do not qualify for membership in the Investor Platform.

Case 3

Subsidiary AB applies for INREV membership. If AB wants to be regarded as an investor member and join the Investor Platform, and subsidiary AA does not have fund manager membership, staff of subsidiary AA may not participate as member representatives in Fund Manager Forum events. Only employees of subsidiary AB may participate in investor-only events.

Case 4

Subsidiaries AA and AB apply for separate INREV memberships. AA is regarded as a fund manager, which means its employees can participate as member representatives in Fund Manager Forum events. AB is regarded as an investor member, which means it can join the Investor Platform. Only staff of subsidiary AB may participate in investor-only events.