Our goal is to generate a stable, long-term income for the group.

There are, of course, different ways to create value depending on the characteristics of a particular market and the phase in the economic cycle.

Consequently, we have adopted a business strategy that focuses on investments aimed at generating a long-term stable yield, complemented by investments with a higher value creation potential in the medium-term. This enables us to build our core investments, while balancing this with the flexibility to quickly take advantage of commercial opportunities when they arise.

We use three main approaches to implement our strategy:


Direct investment
Our preferred route, this gives us greater control and leverage to improve the returns.

Examples: Our commercial properties in London and Geneva.

Here, we co-invest with a local partner who adds value through local expertise and a network of relationships.

Examples: Our partnership with Emerige in Paris.

Real estate funds
We also look at investing indirectly through funds, which offer us a broad market exposure. This also provides a learning opportunity before we make direct investments. This is currently our approach for North America, where we work with Brookfield, a leading strategic corporate player in the real estate market.

Example: Our investment in funds managed by Brookfield in North America.