Co head of RREEF opportunity funds in Europe leaves firm

Daniel Rigny, co-head of RREEF’s real estate opportunity funds in Europe, has left the company.

Rigny departed last week after 10 years with the firm in order to pursue other opportunities.

His decision coincides with changes being made to the hierarchy of RREEF in Europe following the decision by David Brush to retire. Brush, the European head of RREEF Real Estate and the global head of the firm’s opportunity fund business, revealed his intention to step down at the end of last month, and is due to leave next year.

Rigny held his post jointly with Alistair Dixon, who has become the global head of opportunity funds for the firm. During his time, he has been involved in a number of high-profile deals, notably the acquisition of French department store Printemps exactly a year ago for €1 billion ($1.3 billion).

The reorganization by RREEF in Europe follows a similar reshuffling of its US team earlier this year when Stephen Steppe transitioned from CEO of North America to chairman. Timothy Gonzalez, previously the head of acquisitions in the region, has taken on the role of CEO.

RREEF manages approximately €59 billion in assets. Last year, the firm raised $1.6 billion for a global opportunity fund.