IReit Global names new CEO from unitholder Tikehau Capital

THE manager of IReit Global has appointed Louis d'Estienne d'Orves as its new chief executive officer (CEO) with effect from Thursday.

Mr d'Estienne d'Orves is part of IReit unitholder Tikehau Capital's real estate team. As executive director at the French asset management and investment group, his responsibilities include sourcing and executing deals across Europe in the office, retail, hotel and residential sectors, securing external debt financing and capital raising for co-investment opportunities and funds.

He will be based in London, which will allow him to have direct access to the European real estate market as well as leverage Tikehau's local expertise and network as he plans and implements IReit's investment strategy.

Tikehau recently raised its stake in IReit to 29.2 per cent from 16.64 per cent, alongside Singapore's City Developments Limited, which increased its unitholding interest to 20.87 per cent from 12.52 per cent. That brings their stakes to over 50 per cent combined.

Before joining Tikehau in November 2018, Mr d'Estienne d'Orves spent 11 years at AXA IM Real Assets, most recently as the co-head of European transactions, special situations.

John Lim Kok Min, chairman of IReit's manager, said Mr d'Estienne d'Orves "is a valuable member of Tikehau's real estate practice, actively contributing to the business and to the team's growth as well as playing a key role in securing high-profile deals across Europe".

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The manager's previous CEO, Aymeric Thibord, quit in February this year to pursue other opportunities.

The real estate investment trust has a portfolio of nine office assets in Germany and Spain valued at about 630 million euros (S$967.5 million) as at end-2019.

IReit's units were flat at 65.5 Singapore cents as at 9.06am on Friday.