Investec Property Fund is changing its leadership to continue the pursuit of a R10-billion asset target.
The fund‚ listed in April 2011‚ yesterday said executive manager Nick Riley would be its chief executive from the end of March, with current chief Sam Leon, who has stepped down, a non-executive deputy chairman.
Riley spent nine years in Investec Corporate Finance‚ where he was a senior investment banker responsible for a number of Investec’s client relationships‚ including being responsible for all clients within the real estate sector.
Investec Property Fund’s portfolio has grown in size from about 29 properties valued at R1.77-billion at listing to more than 70 properties valued at more than R6-billion.
– Alistair Anderson