Schroder Real Estate Investment Trust (SREIT) has appointed Peter Lowe as fund manager to replace Nick Montgomery, subject to the completion of the consortium acquisition of Picton Property Income.
Lowe, who has 23 years’ experience, including six years managing UK-listed real estate investment companies, is currently head of UK real estate investment at Schroders Capital. Prior to joining Schroders, he worked for Columbia Threadneedle and was a fund manager at DTZ Investors.
Montgomery will support Lowe for as long as is necessary to ensure a smooth transition and thereafter Lowe will retain oversight of SREIT in his capacity as chair of Schroders Real Estate investment committee. He will report in to Montgomery as global head of real estate.
Lowe said: “This is an incredibly exciting opportunity to manage what will be, upon completion of the proposed Picton acquisition, a market leading, FTSE 250 sized, diversified REIT. My focus will be to build on the team’s strong track record of outperformance, capturing the significant opportunities that the transformational acquisition presents, whilst enhancing long term risk-adjusted returns to shareholders alongside continuing to materially grow our earnings.”
Alastair Hughes, chair of Schroder REIT, added: “Peter has a strong track record managing comparable strategies and brings deep real estate experience and a familiarity with the listed sector. We would like to thank Nick for his leadership of the company and are pleased that shareholders will continue to benefit from his involvement, supporting Peter, Bradley, and the wider team in delivering the significant benefits arising from the Picton acquisition.”
