BNP Paribas Real Estate Investment Management (REIM) transacted over € 4bn in 2022, as well as launching new flagship products. To support its growth and dynamic management on behalf of its clients, it has made three appointments to accelerate its European strategy. The responsibilities of Benoit de la Boulaye in the United Kingdom, Isabella Chacón Troidl in Germany and Vincenzo Nocerino in Italy have been broadened since the beginning of the year.
Internal appointments to support business across Europe
To continue the work that began four years ago – aligning countries to support both institutional and private clients – and to better seize the opportunities created by a changing real estate market, three managers are broadening their scope of responsibility:
- Benoit de la Boulaye, CEO UK and member of the business line’s Executive Committee, has also become Global CIO (Chief Investment Officer);
- Isabella Chacón Troidl, alongside her role as CIO for Germany, becomes CEO for the country and joins the business line's Executive Committee;
- Vincenzo Nocerino, CIO for Italy, joins the business line's Executive Committee.
Benoit de la Boulaye Isabella Chacón Troidl Vincenzo Nocerino
Benoit de la Boulaye, 39, is the UK CEO of BNP Paribas REIM and an Executive Committee member. In his new role as Global CIO, he will coordinate the investment and asset management teams, boosting the ability to deploy inflows, rotate the AUM portfolios, and implement the ESG strategy at the asset level. Benoit is an ESCP-EAP graduate and studied at the University of Wisconsin in the US and at the Copenhagen Business School in Denmark. He started his career at Caisse des Dépôts where he oversaw real estate transactions and portfolio management, before working as a strategy consultant at Boston Consulting Group. He joined BNP Paribas REIM in 2011.
Isabella Chacón Troidl, 45, has become CEO of BNP Paribas REIM Germany. She takes over from Claus Thomas who will leave the company in Q2 2023. She will continue as CIO for the countries covered by the German teams (Germany, Austria, the Netherlands, CEE and Scandinavia) and joins the business line’s Executive Committee. Isabella is within BNP Paribas REIM Germany since 2007 (former iii-Investments), becoming CIO and member of the Management Board in 2018. Isabella Chacón Troidl gathered experience in real estate before in an international law firm in Barcelona. She holds a law degree from the University of Regensburg and a postgraduate degree in real estate economics (IREBS).
Vincenzo Nocerino, 41, has been CIO of BNP Paribas REIM Italy since 2020 and has joined the business line's Executive Committee. He was previously Head of Transactions at UBS Real Estate & Private Markets and responsible for the firm's business development and fundraising activities in Italy, having previously developed his transactional expertise at Schroders and AXA IM. Vincenzo Nocerino graduated in Business Administration from the University of Bocconi in Milan.
"I am delighted to appoint these three professionals who have been with BNP Paribas REIM for many years. These promotions are an acknowledgement of their skills and demonstrate our commitment to supporting the most diverse talent within the company. The Executive Committee now includes a mix of seasoned professionals who were already members as well as a new, rising generation. This combination is a powerful asset for our future development” emphasises Nathalie Charles, Global Head of Investment Management for BNP Paribas Real Estate.
Solid fundamentals and efficient teams drive a record year
With a total of € 4bn transacted throughout Europe and € 1.5bn capital raised in 2022, BNP Paribas REIM has established itself as a leading player in European management and investment. Highlights of the year included:
- The launch of Pierre Impact, in partnership with Cedrus & Partners. It is a new positive social impact fund which has been granted the Finansol label, that invests mainly in residential and non-profit real estate and has raised € 80m since its inception with five sponsor insurers.
- The reopening to inflows of the SCPI Accès Valeur Pierre, enabling it to attract further funds to modernise and increase its assets, valued at € 1.9bn.
- Extension of the OPCI BNP Paribas Diversipierre's international distribution beyond France and Luxembourg in Italy. With assets valued at € 2.6bn, the fund is aiming for a diversified Eurozone portfolio in all asset sectors.
- For institutional investors, the ongoing development of the Healthcare Property Fund Europe (HPF Europe) launched in March 2020 saw AUM reach €1 billion by the end of 2022. The European Impact Property Fund (EIPF) and Next Estate Income Fund III (NEIF 3) are also still growing, and BNP Paribas REIM is continuing to scale up niche strategies – such as campgrounds investments – with over € 100m of fresh inflows in 2022.
2023: an eventful year with great opportunities
In 2023, BNP Paribas REIM will pursue its "Investing in Real Estate as living assets" strategy with a three-pronged approach: a European ecosystem, an innovation mindset and enhanced ESG (Environmental, Social and Governance) standards that aim to make its funds more sustainable.
BNP Paribas REIM will achieve this by building on its fundamentals – bringing new offerings to market and increasing inflows in all segments – particularly in the residential and healthcare asset classes, which are part of its diversification strategy.
“2023 promises to be an exciting year full of opportunities. BNP Paribas REIM’s teams are ready to meet the challenges that lie ahead across Europe. Its management has been refreshed by a wide range of in-house talent. I have full confidence in this team to steer the company towards the excellence that our clients seek and to deliver the performance that they expect for their assets” concludes Nathalie Charles, Global Head of Investment Management for BNP Paribas Real Estate.
- Amira TAHIROVIC
