Corestate Capital, the Zug, Switzerland-based private equity real estate firm, has hired Felicity Ambler from Aviva Investors as director of equity raising and investor relations.
Ambler joined last month, PERE has learned, and is based in Corestate’s London office. She reports to Corestate founder Ralph Winter and managing director Ralf Nöcker.
Her appointment was part of a wider strategy by Corestate to both fill a gap left by the departure to MGPA of former head of capital raising and investor relations, Christian Schulte Eistrup, and to expand the investor relations and fundraising function of the business. In addition to her appointment, a managing director of capital raising and investor relations is expected to be appointed shortly and is also likely to work out of London.
Among her first responsibilities will be fundraising for the Corestate German Commercial Properties fund. The vehicle has a current gross asset value of €170 million. It is expected to gain additional equity commitments of €30 million to €50 million before the end of the year.
“Despite the quieter summer months, there has been significant initial interest in the German Commercial Fund which indicates there is capital to be deployed,” she said. “Investors are taking a lot longer to do due diligence, however are increasingly more specific with their strategies but, luckily for us, there is a lot of focus on Germany at the moment and that is where we are sector specialists.”
In addition to Aviva, where she was a product specialist within its real estate platform, Ambler previously worked for Jones Lang LaSalle within its capital markets team in Melbourne, London and Dubai.