Standard Life recruits debt head
Standard Life Investments has recruited Neil Odom-Haslett to head the investment manager’s move into European senior real estate debt investing, as head of commercial real estate lending, based in London. Odom-Haslett will join at the end of August after six years at pbb Deutsche Pfandbriefbank.
Standard Life has been working on a debt strategy for over a year. It has a 30-strong team in Canada lending on commercial property, the bulk of it off the insurer’s own balance sheet.
Brookland forms new debt arm
Restructuring expert Brookland Partners is launching a debt business to match real estate lenders with borrowers. Brookland Financial will have two divisions; one will originate loans for lenders, and is already mandated to find deals for several lenders; the other will source, arrange, structure and underwrite debt for borrowers.
ASR’s retail fund pulls in €455m
Dutch insurer ASR held a second closing for its €1.2bn prime retail fund this month, taking the external equity capital to €455m. A French institutional investor and a Swiss corporate pension fund have invested €75m in the ASR Dutch Prime Retail Fund, which pays a minimum 5% dividend yield and targets total net returns of around 9%. CBRE Real Estate Finance is the fund’s placement agent.
AXA wins ethical French mandate
French public service pension scheme ERAFP has awarded AXA Real Estate a €350m new mandate to invest in primarily core or core-plus pan-European property. A key part of the mandate is to adhere to strict socially responsible investment guidelines.