La Française bolsters value-add business

The Paris-based asset manager has hired Agnès Riban to lead the firm’s expansion into value-add/opportunistic investment strategies.

The property investment arm of La Française, the Paris-based asset manager with more than €53 billion of assets under management, has hired Agnès Riban to lead its foray into higher risk and return real estate strategies.

La Française Real Estate Partners has named Riban senior investment manager responsible for value-add/opportunistic acquisitions.

The hire is part of the firm’s ongoing development plan to offer and develop these strategies in parallel with its core/core-plus offerings.

Riban has more than 15 years of experience in real estate investment and joined La Française from the Carlyle Group where she was head of acquisitions for France and Benelux. She started her career as a financial analyst in the acquisition team of LaSalle Investment Management.

The firm’s property division was established back in June 2014 after it formed a strategic partnership with private equity real estate firm Forum Partners in September 2013, and acquired Cushman & Wakefield Investors in March 2014.

LFREP’s opening purpose was to invest in core-plus strategies in France. To lead the platform, La Française hired French veteran Patrice Genre as its president. Genre was the founder and managing director of DTZ Asset Management, the real estate investment management business of property services firm DTZ. He and his team are 35 percent owners of the platform with the larger share retained by La Française.

The firm currently manages a property portfolio valued at €15 billion.