Business
Appointment of AEW
Appointment of AEW.
About this update from Home Reit Plc
[{"type":"text","content":"\n\nNOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN, INTO OR FROM ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OR REGULATIONS OF SUCH JURISDICTION\nTHIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION\nFOR IMMEDIATE RELEASE\n \n23 May 2023\nHome REIT plc\n \n(\"Home REIT\" or the \"Company\")\n \nAppointment of AEW as Property Adviser and Investment Manager\nFurther to the announcement on 5 April 2023, the Board announces that it has entered into an agreement with AEW UK Investment Management LLP (\"AEW\") under which, effective immediately, AEW will act as the Company's Property Adviser. AEW will become the Investment Manager and Alternative Investment Fund Manager (\"AIFM\") to the Company following Alvarium Fund Managers (UK) Limited ceasing to act as AIFM of the Company, Alvarium Home REIT Advisors Limited ceasing to act as Investment Adviser to the Company, receipt of the required FCA approval for AEW to take on the AIFM functions and adoption by the Company of a revised investment policy.\nSelection process\nAEW's selection follows a competitive process in which the Board received a total of seven proposals and conducted detailed discussions and negotiations with three short-listed parties. AEW was selected based on its expertise both in property, including managing residential for rent, and in managing listed funds, as well as its depth of immediately available resource, the strength of its network in the real estate marketplace, and its experience in taking on investment management mandates, amongst other factors.\nThe Company's lender has given its consent to this appointment.\nBackground on AEW\nAEW is a highly experienced real estate asset manager and part of the AEW group, which has £74.5 billion of assets under management globally as at 31 December 2022. AEW is the investment manager of AEW UK REIT plc, AEW UK Real Return Fund and AEW UK Core Plus Property Fund, in addition to a number of separate account mandates. AEW represents the real estate asset management platform of Natixis Investment Managers, one of the largest asset managers in the world, with £980 billion of assets under management as at 31 December 2022.\nImmediate priorities and proposed amendments to investment policy\nAEW's immediate priorities will be to under...