Regulation & Governance
Our philosophy is to maintain a robust governance framework, incorporating consistent processes, systems and controls across our entire business which are appropriate to manage risk effectively, satisfy all regulatory requirements and protect the interests of clients and other stakeholders.
Principal Real Estate Europe’s governance framework comprises:
Principal Real Estate Europe Board
Principal Real Estate Europe Limited is the top company in the Principal European Real Estate Group, the European arm of Principal Global Investors’ Real Estate Investment Business. The Principal Real Estate Europe Board, which comprises senior executives from Principal Financial Group, Principal Global Investors and Principal Real Estate Europe, is responsible for overseeing the governance and strategic direction of Principal Real Estate Europe, considering key market trends and risks, and setting the strategic priorities for the group which are then executed at the Management Committee level.
The Principal Real Estate Europe Management Committee, which comprises the senior executives from within the business, including the heads of each function, meets formally on a quarterly basis, under the chairmanship of Andrew Thornton (Chief Executive), to agree on the implementation of the business strategy, ensure risks are being identified and managed effectively and discuss key aspects of business operations and performance.
The Principal Real Estate Europe Investment Committee comprises senior investment professionals from across the business, under the chairmanship of the Head of Research, Indy Karlekar. The Committee makes decisions or recommendations on all acquisitions, disposals, major lettings and financings for our fund and asset management mandates and segregated account clients.
Principal Real Estate Europe is authorised as an Alternative Investment Fund Manager (AIFM) under the Alternative Investment Fund Manager’s Regulations 2013 in France, Germany and the United Kingdom.
The boards of each regulated AIFM entity meet on a regular basis to review portfolio and risk management and to ensure regulatory obligations are being met.
Principal Real Estate SAS
Principal Real Estate SAS is authorised and regulated by the French Autorité des Marchés Financiers (AMF) under registration number: 89158. The company is the Alternative Investment Fund Manager for the Principal European Core Fund, Principal Eurozone Durable Income Fund and Principal Hotel Immobilienfonds II SCS. The Board of Principal Real Estate SAS comprises:
- Guillaume Masset and
- Remy Bonnel
Principal Real Estate Spezialfondsgesellschaft mbH
Principal Real Estate Spezialfondsgesellschaft mbH is authorised by the Federal Financial Supervisory Authority of Germany (BaFin) under registration number: 118556. The company is the Alternative Investment Fund Manager for the Group’s German Spezialfonds range, including Principal Care Invest II and the Principal European Office Fund. The Management Board comprises:
- Sebastian Lietsch
- Ute Suhrbier-Hahn
And the Supervisory Board comprises:
- Andrew Thornton
- Giles Smith
- Jennifer Greenwood (independent member)
Principal Real Estate Limited
Principal Real Estate Limited is regulated in the United Kingdom by the Financial Conduct Authority (FCA) under registration number: 564971. The company is authorised to act as an Alternative Investment Fund Manager and acts as investment adviser and delegated portfolio manager to the Principal European Core Fund, the Principal Eurozone Durable Income Fund and Principal’s Hotel Fund II.
The Board of Principal Real Estate Limited comprises:
- Andrew Thornton
- Roger Lees
Sustainability Finance Disclosure Regulation (“SFDR”)
The information required to be published on this website pursuant to Articles 3(1), 4, and 5(1) of Regulation (EU) 2019/2088 of the European Parliament and of the Council of 27 November 2019 on sustainability-related disclosures in the financial services sector in respect of Principal Real Estate SAS, Principal Real Estate Spezialfondsgesellschaft mbH and Principal Real Estate Kapitalverwaltungsgesellschaft mbH is included in the following documents:
Principal’s Pillar III disclosures are being updated and will be added shortly.