Retail property fund manager Pradera has hired a finance director for its recently-launched Pradera European Retail Parks Fund (PERP).
John Hopkins, formerly of Ares Management, Baring Asset Management and Societe Generale, will handle all financial aspects of the fund and will be based in London.
The PERP fund holds the portfolio of retail assets that Pradera acquired from IKEA Centres in April 2017. Through the deal, reported to be worth €900 million, Pradera took over 25 retail parks located next to IKEA stores in eight European countries.
“[Hopkins’] experience spans a variety of sectors including real estate, asset management and investment banking. This will complement Pradera’s existing senior management team and provide strength and knowledge to ensure the business continues to expand significantly in the future,” said Pradera chief executive David Fletcher.
Multi-family office LJ Partnership bought a minority investment in Pradera in April 2016, since which Pradera has expanded its business into new sectors and geographies. Pradera has since launched PERP and established Pradera Retail Asia, a joint venture with Macquarie Retail Real Estate Management Limited.