Seeking value creation in real estate equity through active management
We bring together our research-led view on key thematic trends and a deep understanding of local market dynamics across the UK and Europe. Investing with conviction and discipline, we aim to find value in the places where people want to live, work, play and learn, and we focus on long-term demand drivers and structural changes. We aim to create value for investors through active management throughout each asset’s lifecycle.
Our product suite aims to meet client needs across the risk spectrum. We can tailor our real estate equity solutions as part of broader multi-asset or multi-sector offerings, or focus them on specific thematic opportunities by sector or geography. We seek to deliver alpha by leveraging our collective market insight into the inherently inefficient and cyclical nature of real estate.
Why invest?
Real estate equity is an established asset class that can create value to meet a variety of investment goals and provides diversification benefits.
Value creation
We aim to enhance returns through asset repositioning, development and rigorous active management.
Illiquidity premium
The private nature and high barriers to entry of the asset class typically command an illiquidity premium.
Full risk spectrum
A wide array of solutions to meet a diverse set of investment objectives.
*ESG integration means the integration of ESG factors and consideration of sustainability risk as part of the investment decision making process. This process is applied beyond any specific binding constraints (in the objective or strategy of the fund as detailed in the prospectus or investment management agreement and in accordance with our Baseline Exclusions Policy). The investment manager retains discretion on decision making taking all risks into account, beyond any binding criteria.
Key risks of real estate equity strategies
Investment risk
The value of an investment and any income from it can go down as well as up and can fluctuate in response to changes in currency and exchange rates. Investors may not get back the original amount invested.
Real estate risk
Where strategies are invested in real estate, investors may not be able to redeem any units in the fund when they want because real estate assets may not always be readily saleable. If this is the case, we may defer a request to switch or cash in shares or units.
Valuation risk
Certain assets held in the strategy could, by nature, be hard to value or to sell at a desired time or at a price considered to be fair (especially in large quantities), and as a result their prices could be very volatile.
Investment insights
Investment thinking that brings together the collective insight of Aviva Investors’ teams from across the globe on the key themes influencing markets.
Views
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Beyond buyout: Why DB schemes are reconsidering their endgame
10 Dec 2025
Significant shifts in the defined benefit (DB) pension schemes landscape mean that as schemes mature, trustees and sponsors now face a broader spectrum of strategic choices. We explain why the choice between buyout and run-on is no longer binary.
Article in focus
Solid foundations: The case is building for infrastructure equity
In this article Viktor Dietrich, Research Director for infrastructure, venture capital and natural capital, revisits the case for investing in European infrastructure equity. He suggests reasons why small-to-mid-sized opportunities should feature prominently on investors’ radar.
Private Markets Study
Private Markets Study 2025
In the seventh edition of the study, we collected the views of 500 institutional investors around the world. We delved into some of the key questions facing private market investors today: Why do they invest in private markets? How do they expect the asset classes to perform over the next few years? What are the biggest barriers to investing today? And how do they incorporate sustainability?
House View
House View
No one can predict the future. But our quarterly House View sets out the collective wisdom of our investment teams on the current state of global markets – and where they might be heading.
Real estate equity team
Meet our real estate equity investment team.
Imogen Ebbs
Head of Strategic Investment & Growth, Active Equity
James Stevens
Head of Investment – Global Real Estate
George Fraser-Harding
Head of Pan-European Funds, Real Estate
Explore
Private markets
As one of Europe’s largest private markets investment managers, we have the scale to access the full depth and breadth of private markets.
Real estate
Outcome-oriented solutions in real estate, across equity debt and long income, through strategies that span the risk spectrum, from lower-risk options generating long-term income to more opportunistic investments.