Pirelli Real Estate has named Olivier De Poulpiquet chief investment officer and head of fundraising as it revealed further details of its maiden European opportunity fund.
The real estate management arm of Italy’s famous tire manufacturer is targeting €1 billion ($1.5 billion) for deployment in offices and the retail sector in areas it already operates in – Germany and Eastern Europe.
In a statement, Milan-based Pirelli said De Poulpiquet had been charged with responsibility for all investment and fundraising activities as its chief investment officer. The former co-head of Morgan Stanley's European Real Estate Investment Group joined the firm in 2004 and has the current title of general manager of investment and asset management.
As part of a simplification of the firm's structure Pirelli also said Paolo Bottelli, formerly deputy general manager and services, becomes managing director of residential asset management and services, while Rodolfo Petrosino, formerly deputy general manager of acquisition and asset management offices, becomes managing director of commercial asset management and services. Massimiliano Bertolino becomes head of non-performing loans.