20 Dec 2021

The Association of Real Estate Funds (AREF) are pleased to announce the appointment of two new Directors to their Board: Edmund Craston and William Hill.

Edmund is an experienced real estate business leader with deep knowledge of management of real estate equity and debt capital markets, both public and private. 

William holds a number of positions, including, Chairman at Ediston Property Investment Company plc Board Member at Old Oak and Park Royal DC (OPDC) NED Mayfair Capital.

Edmund Cranston commented “I am very pleased to be joining the Board of AREF. Now more than ever, an association like AREF is of tremendous value to the real estate industry. The Association has done a fantastic job helping members face the numerous challenges brought on by the pandemic. As a board member, I’m also looking forward to help the industry consider and address the wider themes and trends which will influence the evolution of the UK property fund market."

William Hill commented "Having been a founder director in 2002 I am delighted to be invited back on the board of AREF as senior non executive director.  It is an important time for the industry given the huge responsibility that  owners and managers of capital have in making  the transition to net zero.  I am looking forward to working with the AREF team and membership on this and a number of other important issues."

They will bring a wealth of knowledge to the AREF Board and we look forward to working closer with them both.

Biographies

Edmund Craston

Edmund Craston

Independent Consultant

Edmund is an experienced real estate business leader with deep knowledge of management and of real estate and equity and debt capital markets, both public and private.

He was the Managing Director (and Partner) of Rockspring Property Investment Managers from 2009-2018, responsible for strategic direction and day to day operations, and was Senior Managing Director, Head of Fund Management and a member of the Senior Leadership team and Operational Board of PATRIZIA from 2018-2021.  He has extensive experience of chairing and participating in Investment Committees and other key corporate and fund governance boards and committees, including ESG committees.

 Before joining the real estate investment management industry he had a long career in investment banking, and he was European Head of Real Estate Investment Banking at both UBS Investment Bank and Lehman Brothers. There, and as an independent consultant following the Global Financial Crisis, he advised a wide range of companies and investors on capital raising, corporate finance strategy and M&A transactions from 1987-2009.

William Hill

William Hill

Non Executive Director

William holds a number of positions, including, Chairman at Ediston Property Investment Company plc Board Member at Old Oak and Park Royal DC (OPDC) NED Mayfair Capital.

Prior to becoming a consultant in 2014, William joined Schroders in 1989 as a fund manager, Promoted in 1990 and then to head of property in 1991.

He has a BSc in Land Management from Reading University. 

 

 

Author

Paul Richards

Paul Richards

Managing Director, AREF

Paul is the Managing Director of AREF.

Before joining AREF, Paul was Head of the European Real Estate Boutique within Mercer’s investment consulting business for almost 10 years, previously he was Head of Indirect Real Estate Investment and Global Managed Accounts at LaSalle Investment Management, where he was responsible for managing global portfolios of unlisted real estate funds for clients from Europe and Asia Pacific.

He has over 25 years of real estate experience in investment, corporate finance and research, and has advised investors, occupiers and venture capital companies on property portfolio strategy and on financial structuring, including PFI, senior and mezzanine debt and joint venture arrangements. His employers have included LaSalle Investment Management, Cushman & Wakefield and Henderson Investors.

Before coming into the world of real estate, Paul worked in marketing and market research. He originally studied Physiological Sciences at Lincoln College, Oxford and has a Master of Science in Real Estate from City University Business School, London, now Cass Business School.