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Private equity fund of funds pro joins UK property REIT

Jean-Marc Vandevivere has left San Francisco-based Horsley Bridge Partners to research markets and opportunities for British Land, a London REIT.

A private equity professional from San Francisco-based fund of funds firm Horlsey Bridge has joined UK property company British Land as head of strategy.

Jean-Marc Vandevivere has joined the London-based REIT to research the property market and opportunities.

The last fund Horsley raised was in June 2008 when it got a total of $1.76 billion of commitments.

Vandevivere joins British Land which is under new leadership after chief executive Stephen Hester joined Royal Bank of Scotland last year. Hester’s successor was Chris Grigg, who joined in  January.

The company has been working to reduce its £5 billion (€5.7 billion, $8 billion) of debt and to improve its financial firepower. It executed a £740 million rights issue in March and has been selling assets.