You are here

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.

BT is now on Telegram!

For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes