Aberdeen Property Investors and L’Etoile Properties form strategic partnership to develop property asset management services for the French property market
Aberdeen Property Investors, the specialised property division of Aberdeen Asset Management plc and a leading property investment manager in Europe, has strengthened its presence in France through a strategic partnership agreement with L’Etoile Properties, a leading property asset manager in France.
The partnership continues Aberdeen’s strategy of expanding geographically to enable institutional investors to gain access to investment opportunities and international diversification. This partnership will provide Aberdeen’s clients with access to a number of interesting property investments in France.
Rickard Backlund, CEO of Aberdeen Property Investors commented:
“L’Etoile Properties is a very good match for our business and an important building block in our strategy. We are delighted to be working together and are sure it will provide both firms’ clients superior and diversified property returns. L’Etoile Properties has a strong track record of identifying and acquiring interesting investment opportunities in France and is rapidly growing its volume of property assets under management.”
Didier Unglik, Managing Director of L’Etoile Properties commented:
“This agreement provides us with the international framework and tools for our local business and gives us the financial strength for future expansion.”
This partnership strengthens Aberdeen’s newly established office in France where Jacques-Yves Nicol was appointed Managing Director in April this year.
Jacques-Yves Nicol commented:
“We will focus on two areas in France: Asset Management with strong acquisitions skills and active management of French properties. With L’Etoile as our strategic partner, we will work together to generate superior returns for both firms’ clients. The other area is Fund Management where we will structure and promote property funds suitable for French and international investors. We see a strong demand from institutional investors in all countries to increase their international property allocation that offers both diversification and the potential for higher returns"
END
For more information, please contact:
Ubbe Strihagen, International Director, Aberdeen Property Investors Holding, +46 70 520 33 80, ubbe.strihagen@aberdeenpropertyinvestors.com
Charlotte Barker / Tom Siveyer, Maitland, +44 207 379 5151
About Aberdeen
Aberdeen Property Investors is the specialised property division of Aberdeen Asset Management plc, a global investment management group listed on the London Stock Exchange and managing over EUR 100 billion of assets.
Aberdeen Property Investors manages over EUR 9 billion in property investments through property funds and management mandates. The division has some 500 employees at offices in ten countries. Clients are primarily institutional investors such as life and pension funds.
Aberdeen was named the leading real estate Investment Manager Globally, in Western Europe and Nordic & Baltic regions in the Euromoney Awards 2006 for Excellence in Real Estate.
Issued and approved by Aberdeen Asset Managers Limited, on behalf of Aberdeen Property Investors, authorised and regulated by the Financial Services Authority.
About L’Etoile
L’Etoile Properties is a private Paris based Investment Management company. It provides global services (acquisition, financing, asset, property and corporate management) to foreign investors with a view to implementing their investment strategy in France and across Europe. L’Etoile Properties has EUR 1,250 million in property under management and has completed property acquisitions of EUR 550 million to date in France. L’Etoile Properties’ fully staffed team has expertise in the legal, financial, tax and technical fields, thus providing solutions and answers to all its clients’ problematic and questions.