M&G has announced Simon Ellis as the new lead manager of the €4.5bn M&G European Property Fund following the decision of David Jackson to retire from running the ex-UK pan-European open-ended fund.
Jackson retires following 43 years with M&G and having been involved in the launch of the strategy over 20 years ago. It is stated to be the largest in its peer group, with ongoing growth in demand from global institutional investors for exposure to the asset class.
As part of a long-term succession plan, Ellis and Jackson have worked together for 17 years, with Ellis appointed as Deputy Fund Manager in 2015 and Co-Fund Manager in 2023, M&G noted.
The strategy incorporates areas including residential, logistics and commercial property. M&G notes its real estate team is part of the firm’s wider £74bn private markets business, which is growing as institutional allocation increases, but also because of industry changes broadening participation in such asset classes.
Marc Reijnen, who currently leads M&G’s continental European real estate investment and asset management teams, now assumes overall responsibility for the leadership and strategic direction of the European (ex UK) platform, which includes a 30-strong team in 6 European offices, which invests across all sectors in 12 countries.
The M&G European Property Fund has a broad investor base. It invests on behalf of M&G’s Life business and institutional clients in Europe, UK, Asia Pacific, Japan and North America. It is committed to ESG credentials and provides exposure to 12 European markets, with a tilt towards high quality assets in Western and Northern Europe across all key sectors.
Martin Towns, Deputy Head of M&G Real Estate, said: “David has played a pivotal role in shaping our strategy in continental Europe, selectively growing the portfolio and strategically diversifying into the Living sector in 2019. We have grown the European platform alongside the Fund, paving the way to support our other European strategies and ensuring our clients benefit from on-the-ground, local market expertise. We would like to thank David for his significant contribution throughout his career with M&G and we wish him the very best for his retirement.”
“Simon has proved himself as an astute investor and, with the strength of our continental European platform, is well placed to lead the Fund into the next stage of its growth. Investors are taking a closer look at the potential investment opportunity this market has to offer, with renewed interest in the growth potential of European economies. With Marc, Simon and the broader team, we will draw on our extensive experience and profound understanding of the European property landscape to drive long-term returns for our investors.”
Jackson said: “It has been a privilege to have such a fulfilling career in the real estate industry harnessing M&G’s unique combination of long-term capital from our Life Business and the strength of our client relationships on the asset management side. Establishing and growing our continental European platform has provided more institutional investors with access to multiple local markets that have so much to offer for those investors looking for diversification and different structural drivers.”
