INREV, the European Association for Investors in Non-listed Real Estate Vehicles, has appointed Neil Harris as its chairman following three years with Patrick Kanters in the role.
Harris, whose appointment was announced on Tuesday at the organization’s AGM, is a senior vice president at GIC, the Singapore sovereign wealth fund. He takes over from Kanters, managing director at Dutch pension fund APG.
A chartered surveyor with over 30 years in European real estate, Harris joined GIC in May 2007, taking responsibility for a team managing a diverse portfolio of direct and indirect investments.
He said: “I’m excited by the opportunity; I have been on the board for five years so this is an organization I know well. INREV has a spread of investors, fund managers and advisors who come, geographically from a across the globe too.”
“Our main priority going forward is to support INREV deliver its business plan, which is to promote transparency and best practice among its members,” he added.
Harris said these practices included the globalization of professional standards and research, to continue to produce robust performance indices and to be the voice of the non-listed real estate industry.
Outgoing chairman Kanters is stepping down from the management board after serving a full six years. Noel Manns, principal at Europa Capital, also steps off the board after completing a six year term.
Also joining the board are Isabelle Scemama, head of funds at AXA Investment Managers Real Assets, and Guido Verhoef, head of private real estate at Dutch pension fund PGGM.
Scemama, who has 26 years of industry experience, joined BNP Parisbas in 1990 before moving to AXA in 2001, where she now looks after €25 billion of assets across a number of business lines. Verhoef joined PGGM in 2008 and is responsible for an €11.5 billion global portfolio of private real estate investments. He is also a member of INREV’s Advisory Council.
Matthias Thomas, CEO at INREV, said: “These three appointments all bring a fantastic range of knowledge and experience to their new roles. We are also extremely grateful to both Patrick and Noel for the enormous contributions they have made. We will continue to champion non-listed real estate and map the future of our industry.”
INREV was launched in 2003 and currently has 383 members drawn from institutions investors, fund managers, banks and advisers across Europe and the globe. In 2015, 40 new members joined the organization.