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Aviva Investors merges business units as part of restructure

Aviva Investors has announced the formation of a new real assets business as part of a restructure.

The move will merge direct real estate, infrastructure and private debt under a single leadership and operating structure.

Aviva says the restructure will position the business to meet the growing client need for real assets and private debt which it expects to more than double by 2025.

Mark Versey has been appointed chief investment officer of the business and will oversee around 300 people in London, Norwich, Paris, Frankfurt and Toronto.

Aviva Investors has also agreed to sell its real estate multi-manager business and its interest in Encore+, a pan-European commercial property fund, to LaSalle Investment Management.

The deal will see approximately £6bn of assets transferring on completion, subject to client and regulatory approvals.

Aviva Investors chief executive of global real estate Ed Casal will join LaSalle as part of the transaction.

Aviva Investors chief executive Euan Munro says: “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.”

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