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Cromwell E-Reit manager's chief investment officer quits

THE chief investment officer (CIO) of Cromwell European Real Estate Investment Trust's (Cromwell E-Reit) manager has resigned "to devote his time to his own entrepreneurial activities".

Thierry Leleu, 52, will leave the company on Sept 25 this year, the manager said in a bourse filing on Wednesday morning.

Appointed CIO in September 2017, he was a key member of the team that took Cromwell E-Reit to its listing on the Singapore Exchange later that year.

As CIO, Mr Leleu has been instrumental in Cromwell E-Reit's post-listing success over the past two years, the manager said.

His responsibilities include identifying, researching and evaluating potential acquisitions with a view to enhancing the trust's portfolio, or divestments where a property no longer fits the portfolio's risk-return profile.

Last week, Cromwell E-Reit completed two deals - the acquisition of three light industrial/logistics properties in Germany, and the sale of 12 assets in other European countries.

Units of Cromwell E-Reit lost one euro cent or 2.8 per cent to trade at 35 cents as at 9.24am on Wednesday.

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