INREV, the European Association for Investors in Non-Listed Real Estate Vehicles, has appointed one of this year’s Global PERE Award recipients as its new chairman.
According to the European trade association, Patrick Kanters, managing director of global real estate at APG Asset Management, will take over as chairman at INREV’s annual general meeting in Vienna on 24 April. He will replace current chairman Michael Morgenroth, who will be stepping down following his appointment to the board of Austrian real estate fund manager SIGNA Group.
“I am delighted to welcome Patrick to the role of INREV chairman. His extensive experience and knowledge will be a great boost to the work we currently are doing,” said Matthias Thomas, INREV chief executive officer, in a statement. “I also would like to extend my thanks to Michael for his sterling work as chairman over the past two years, particularly his efforts to help us refine and increase our public affairs activity.”
“This is a really exciting opportunity for me,” Kanters said. “I have been involved with INREV since 2003 – shortly after its launch – and believe that the organisation plays a vital role in representing the non-listed real estate industry.”
INREV’s board, which nominated Kanters unanimously, believes his experience as a global investor with one of the world’s largest pension fund managers will bring additional value and insight to the organisation. Specifically, it sees potential benefits to its key strategic priorities, such as embedding transparency, developing global standardisation and promoting inter-regional research programmes.
In appointing Kanters as chairman, the association believes “his experience across a broad spread of real estate investment products will be of great benefit to INREV as it seeks to broaden its reach to cover an ever-widening range of investment vehicles such as joint ventures, club deals and real estate debt funds.” In addition, INREV expects he will bring APG’s expertise on sustainability to the organisation’s knowledge base.
Kanters is the recent recipient of the 2011 Global PERE Award for European Industry Figure of the Year, which he won because of his influence on the private equity real estate industry in Europe. In particular, voters seemed to admire his fighting for better corporate governance while leading large-scale club deals and direct property ventures around the globe on behalf of APG.
At APG, Kanters is responsible for all global real estate investments in Europe, the Americas and the Asia-Pacific region. Prior to joining APG in 2005, he spent 11 years with ING Real Estate, most notably as managing director of the investment management department.