IReit Global manager to appoint new CEO and CIO
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Louis d’Estienne d’Orves will step down as IReit Global's CEO and relocate to Asia to assume a senior role in Tikehau Capital, one of IReit’s joint sponsors.
PHOTO: IREIT GLOBAL
Paige Lim
SINGAPORE – The manager of IReit Global said on July 4 that it has picked Mr Peter Viens to be its new chief executive, following the departure of current CEO Louis d’Estienne d’Orves.
Mr d’Estienne d’Orves, who has been CEO of the manager since 2020, will assume a senior role in Tikehau Capital, one of IReit’s joint sponsors, and move to Asia.
Mr Viens, the incoming CEO, is now a fund manager at Sofidy – a European real estate asset manager, which is part of the Tikehau Capital group. He has been with Sofidy for more than seven years, managing real estate investments surpassing €500 million (S$731 million) in value.
Before that, he held senior roles in corporate real estate departments for major institutions, including multinational companies and a global financial institution. He has more than 20 years of experience in the real estate sector, including extensive experience in real estate management.
The manager intends for Mr Viens to be based in Europe.
It also plans to appoint Mr d’Estienne d’Orves as a non-executive director on its board to leverage his experience and knowledge of IReit Global.
IReit’s manager also announced that it will appoint a Europe-based chief investment officer who will assist the CEO in overseeing the investment and asset management functions for IReit.
Mr Emilio Velasco, Tikehau Capital’s head of real estate in Spain and Portugal, has been named for the role, and will undertake it on a part-time basis.
This is because he will continue in his roles at Tikehau, where he has been promoted to Tikehau Capital’s head of real assets Iberia and Tikehau Investment Management’s co-head of real estate acquisition.
Mr Velasco has more than 15 years of experience in investment banking and real estate. He established Tikehau Capital’s real estate strategy in the Spanish and Portuguese markets, including developing strategic plans and leading the investment and real estate management teams.
The manager is targeting for these senior management changes in IReit to take effect by the first quarter of 2025. It has yet to determine an exact date and will first require the receipt of necessary regulatory approvals, including those from the Monetary Authority of Singapore.
Units of IReit Global closed 0.5 cent, or 1.75 per cent, lower at 28 cents on July 5. THE BUSINESS TIMES
