AEW Europe has completed its merger with Ciloger, a French real estate fund manager with €5bn (£4.5bn) in assets under management.
Combined, the companies will have €24bn in AUM, making it one of the biggest property management firms in Europe.
Rob Wilkinson, chief executive of AEW Europe, will stay on in his role while Isabelle Rossignol, managing director of Ciloger, will head up the company’s new French retail platform and join its executive committee.
From July: AEW adds €400m to shed fund
From March: AEW refinances French portfolio
Wilkinson said: “This merger is another significant step forward in AEW Europe’s growth strategy. Isabelle and her team are well respected and bring with them a wealth of expertise that will help us to continue the development of our combined French retail platform.
“The current low interest rate environment has increased investor appetite for real estate funds and we believe there is significant potential to further expand this platform in the short to medium term.”
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