M7 executive chairman Richard Croft has decided to step back from his role later this year, remaining with the company in a senior advisor capacity.
Croft (pictured) will stay in his role as executive chairman for three months for a handover period, after which he will stay on as a senior advisor to the company. He will also stay on the general partner boards of all the M7 discretionary funds.
In addition to his role at M7, Croft will start a new business to focus on specific opportunities outside of the warehousing sector.
Chief executive and co-founder David Ebbrell will take over responsibility for the management of the company, supported by the remaining six members of the M7 leadership team, which includes five co-founders.
Croft’s departure comes two years after M7 was acquired by Oxford Properties in January 2021.
Since the acquisition, M7’s assets under management have grown to roughly €7bn (£6.1bn) from about €4bn, with the firm placing an increased focus on targeting institutional capital.
Croft said: “Having dedicated 14 years of my life to working with a fantastic team of people and helping M7 grow to what it is today, I feel it is time for me to step back from day-to-day executive responsibility and hand the reins over to David.”
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