European financial group Catella is to set up a new property asset management operation in France by spring 2014.
The new French property asset management operation will be headed by François Brisset, previous managing director and co-founder of DTZ Asset Management.
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The new unit will focus on investment management, asset management and property management for French and foreign investors.
Additionally, the new operation will complement the group’s property services offering in Europe.
However, the asset management platform will be independent of Catella’s property advisory services in France, with a separate office in Paris.
Johan Ericsson, President and CEO at Catella, said: "In order to build on Catella’s strong position in property advisory services in the French market, we are now establishing property asset management activities. France is one of Catella’s most important markets. The fact that the establishment will be achieved together with one of France’s foremost and best qualified teams in the field, under the management of François Brisset, makes it even more exciting."
Brisset said: "To meet a growing demand from investors for secure and tailor-made investments, it is our intention to structure, host and manage investment vehicles on behalf of third-party investors. We will be active within commercial real estate and residential."
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By GlobalDataCatella currently has 5 billion in assets under management in Europe, out of which 2 billion is within property.
