Aviva Investors establishes Real Assets business

Aviva Investors announces the formation of a new Real Assets business, bringing together direct real estate, infrastructure, structured finance and private debt under a single leadership and operating structure.

  • Integration of real estate, infrastructure and private debt businesses creates £37bn platform;
  • Mark Versey appointed Chief Investment Officer, Real Assets;
  • Aviva Investors to focus on being a direct operator, with full control over fund management, asset management, origination and distribution;
  • Aviva Investors enters into agreements to sell indirect Real Estate Multi-Manager business and interest in Encore+. 

(London) – Aviva Investors, the global asset management business of Aviva plc (‘Aviva’), today announces the formation of a new Real Assets business, bringing together direct real estate, infrastructure, structured finance and private debt under a single leadership and operating structure.

Aviva Investors is one of Europe’s largest managers of real assets, with over 35 years of experience and £37 billion of assets under management1. With global allocations to alternative strategies, including real assets and private debt, expected to more than double by 20252, the formation of Aviva Investors Real Assets (AIRA) will position the business to meet this growing client need.

Mark Versey has been appointed Chief Investment Officer, Real Assets; overseeing around 300 professionals in five locations (London and Norwich, Paris, Frankfurt and Toronto) working across fund management, asset management, asset origination, underwriting, research and business management.

A Real Assets leadership team has been established, comprising:

  • Mark Versey, CIO, Real Assets
  • Barry Fowler, Managing Director, Alternative Income
  • Daniel McHugh, Managing Director, Real Estate Investments
  • David Skinner, Managing Director, Real Estate Strategy and Fund Management
  • Chris Urwin, Director of Research, Real Assets

AIRA will focus on being a direct operator in Real Assets, with full control over fund management, asset management, origination and distribution in its chosen markets. Consequently, Aviva Investors has entered into agreements to sell its Real Estate Multi-Manager business and its interest in Encore+, a pan-European commercial property fund, to LaSalle Investment Management3. The deal will see approximately £6 billion of assets (less than 2% of Aviva Investors’ total AUM) transferring on completion, subject to client and regulatory approvals. Ed Casal, CEO, Global Real Estate at Aviva Investors, will join LaSalle as part of the transaction.

Euan Munro, Chief Executive Officer, Aviva Investors, said:

“Integrating our Real Asset capabilities into a single platform makes sense for our clients and our business. By focusing on our existing origination strengths in Europe and building out our product and global distribution capabilities, I am confident that we will establish Aviva Investors as a market-leading Real Assets platform. This is a key priority for our business.  

Mark’s promotion is richly deserved. Since joining us in 2014, he has helped transform the scale and breadth of our institutional solutions offering, and was the obvious choice to lead our Real Assets business.

Ed’s commitment in refocusing our real estate portfolio and his contribution to the Executive team are recognised by me and the rest of the business. While I will be sad to see him go, I wish him every success in future.”

Mark Versey, Chief Investment Officer, Real Assets, Aviva Investors, said:

“I’m excited to lead the expansion of our Real Assets business, with a great team already in place and strong product capabilities. We have a long track record in sourcing and managing real assets for Aviva and external clients, and this new structure will allow us to be even more responsive in delivering the single-strategy and multi-asset solutions our clients need; whether that’s for capital growth, sustainable income, beating inflation or meeting liabilities.”

References 

1 As of December 31, 2017

2 https://www.pwc.lu/en/press-releases/2017/asset-wealth-management-revolution.html

3 The Fund has been co-managed by LaSalle and Aviva Investors for 11 years whereby Aviva Investors is the Fund Manager and LaSalle is the Asset Manager

Notes to editors

The information and opinions contained in this document are for use by the financial press and media only. No reliance may be placed for any purpose on the information or opinions contained in this document nor should they be seen as advice. 

The press release is provided on the basis that Aviva Investors Global Services Limited is not causing the communication of a financial promotion under exemption of the Financial Promotion Order, as Aviva Investors Global Services Limited has no control over the way in which an article based on this press release is prepared and published by the financial press and media. 

Except where stated as otherwise, the source of all information is Aviva Investors Global Services Limited (“Aviva Investors”) as at 21 May 2018. Unless stated otherwise any views, opinions expressed are those of Aviva Investors. They should not be viewed as indicating any guarantee of return from an investment managed by Aviva Investors nor as advice of any nature.  The value of an investment and any income from it may go down as well as up and the investor may not get back the original amount invested. Past performance does not indicate future results.   

Issued by Aviva Investors Global Services Limited, registered in England No. 1151805.  Registered Office: St Helen's, 1 Undershaft, London, EC3P 3DQ   Authorised and regulated by the Financial Conduct Authority.

Aviva Investors 

Aviva Investors is the global asset management business of Aviva plc. The business delivers investment management solutions, services and client-driven performance to clients worldwide. Aviva Investors operates in 15 countries in Asia Pacific, Europe, North America and the United Kingdom with assets under management of £353 billion as at 31 December 2017.

AVIVA PLC

  • Aviva provides life insurance, general insurance, health insurance and asset management to 33 million customers.
  • In the UK we are the leading insurer serving one in every four households and have strong businesses in selected markets in Europe, Asia and Canada. Our shares are listed on the London Stock Exchange and we are a member of the FTSE100 index.  
  • Aviva’s asset management business, Aviva Investors, provides asset management services to both Aviva and external clients, and currently manages over £350 billion in assets. Total group assets under management at Aviva group are £490 billion.
  • Aviva helps people save for the future and manage the risks of everyday life; we paid out £34.6 billion in benefits and claims in 2017.
  • By serving our customers well, we are building a business which is strong and sustainable, which our people are proud to work for, and which makes a positive contribution to society.
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