Internos Real Investors has added a second former Invista mandate to its growing fund management business.
Icelandic bank Kaupthing hf appointed the firm, which was set up in 2008 by Jos Short and Andrew Thornton, investment manager of the €90m (£75m) Celsius European Holdings.
It is expected to maximise value from the portfolio, which comprises 11 office and industrial properties in France.
As part of the win, Internos has expanded its French office by appointing the six-strong Invista Paris team, with Guillaume Masset becoming head of its French business.
Kaupthing took over the properties from the original joint venture partners, Invista and PropInvest.
The appointment follows Internos’s takeover of the management of the £475m listed pan-European Invista European Real Estate Trust last month.
The new mandate, coupled with the Invista business, gives Internos gross assets in France of €350m and adds to its €1.5bn of assets under management across six funds and two separate accounts.
bridget.oconnell@estatesgazette.com
