Redevco hires investment management head from Abrdn

Redevco has appointed Abrdn head of core Europe funds Veronica Gallo-Alvarez as head of investment management, in a move that sees her reunited with former Abrdn chief executive Neil Slater. Gallo-Alvarez will report to Slater, who joined Redevco as chief executive last year. She will be based in Paris and lead a function responsible for investment outcomes, transaction management, and research and strategy. Gallo-Alvarez became fund manager at Standard Life Investments’ European property growth fund in 2014, three years before its merger with Aberdeen Asset Management in 2017, and rebranding as Abrdn in 2021. She played a significant role in growing SLI’s European real estate portfolio and actively participated in the development of the investment manager’s circa €2.5bn (£2.1bn) value-add strategies. Redevco said the appointment marked another step in its ambition to grow its real estate capabilities. Its strategy focuses on four areas: redeveloping retail properties into mixed-use high street assets; expanding its retail warehouse park and distribution platform; growing its presence across the broader pan-European residential and ‘living’ space; and special situation investments. Significant mixed-use projects are underway in London (Oxford Street), Paris (Rue de Rivoli, Boulevard Haussmann) and Hamburg (Mönckebergstrasse), with material residential developments mostly in the Netherlands (Amsterdam and Rotterdam areas). The company recently launched Redevco Capital Partners, based in London, focused on special situation equity and debt opportunities in real estate markets, and Redevco continues to evolve its own proprietary portfolio, globally. Slater said Gallo-Alvarez brings “significant cross-sector industry experience” to the business, at “an exciting time”. Gallo-Alvarez is Redevco’s fourth key hire in 2024, with Sasha Silver joining in January as Redevco’s head of global client group, Mark Beaumont as managing director of Redevco Capital Partners, and David Garden as chief of staff. Photo courtesy of Porterfield on behalf of Redevco